Gilder Gagnon Howe & Co. LLC Acquires 57,516 Shares of Snowflake Inc. $SNOW

Gilder Gagnon Howe & Co. LLC grew its holdings in Snowflake Inc. (NYSE:SNOW) by 180.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 89,462 shares of the company’s stock after purchasing an additional 57,516 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Snowflake were worth $20,019,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Capital Advantage Inc. grew its position in Snowflake by 1.1% in the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares during the last quarter. Wedbush Securities Inc. increased its position in Snowflake by 1.3% during the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after purchasing an additional 48 shares in the last quarter. Avion Wealth lifted its stake in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the last quarter. Insigneo Advisory Services LLC lifted its stake in Snowflake by 1.3% in the 2nd quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company’s stock valued at $896,000 after purchasing an additional 52 shares during the last quarter. Finally, Advyzon Investment Management LLC boosted its position in Snowflake by 3.8% in the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock valued at $340,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group increased their price target on Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Wedbush reiterated an “outperform” rating and issued a $270.00 target price on shares of Snowflake in a research report on Thursday, December 4th. Scotiabank reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, December 4th. JMP Securities boosted their price target on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Finally, Cowen reiterated a “buy” rating on shares of Snowflake in a report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $274.78.

Snowflake Price Performance

Snowflake stock opened at $217.95 on Friday. The stock’s 50 day moving average is $250.24 and its 200 day moving average is $227.20. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The firm has a market cap of $73.84 billion, a P/E ratio of -53.95 and a beta of 1.09. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.48.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company’s revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 EPS. As a group, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity

In other news, Director Frank Slootman sold 7,551 shares of Snowflake stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the completion of the transaction, the director directly owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $257.30, for a total value of $12,951,967.40. Following the sale, the director owned 33,596 shares in the company, valued at approximately $8,644,250.80. The trade was a 59.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 221,360 shares of company stock worth $53,391,315 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.