Sands Capital Alternatives LLC Has $4.44 Million Holdings in Snowflake Inc. $SNOW

Sands Capital Alternatives LLC reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,253 shares of the company’s stock after selling 6,752 shares during the quarter. Snowflake makes up approximately 0.9% of Sands Capital Alternatives LLC’s holdings, making the stock its 17th largest holding. Sands Capital Alternatives LLC’s holdings in Snowflake were worth $4,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SNOW. Brighton Jones LLC boosted its holdings in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after acquiring an additional 29,320 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after buying an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in Snowflake during the 2nd quarter worth $221,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Snowflake by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock worth $5,055,000 after buying an additional 1,521 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

SNOW opened at $232.38 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The company has a fifty day simple moving average of $173.64 and a 200 day simple moving average of $189.84. The stock has a market cap of $80.54 billion, a P/E ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. On average, research analysts expect that Snowflake Inc. will post -1.87 EPS for the current year.

Insider Activity

In related news, Director Mark Garrett sold 100,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the sale, the director owned 8,801 shares in the company, valued at $2,200,250. This represents a 91.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $245.21, for a total transaction of $98,819.63. Following the completion of the sale, the director owned 22,106 shares of the company’s stock, valued at approximately $5,420,612.26. This represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,589,550 shares of company stock worth $359,438,410 in the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SNOW shares. Piper Sandler upped their price objective on Snowflake from $295.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. KeyCorp set a $295.00 target price on shares of Snowflake in a research report on Thursday, May 28th. The Goldman Sachs Group upped their target price on shares of Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Truist Financial upped their target price on shares of Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, Wedbush upped their target price on shares of Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $291.77.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.