Mediolanum International Funds Ltd Takes Position in Snowflake Inc. $SNOW

Mediolanum International Funds Ltd acquired a new position in Snowflake Inc. (NYSE:SNOW) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 4,343 shares of the company’s stock, valued at approximately $667,000.

Other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its stake in Snowflake by 10.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock valued at $120,000 after purchasing an additional 50 shares during the period. HHM Wealth Advisors LLC boosted its stake in Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares during the period. United Asset Strategies Inc. grew its holdings in Snowflake by 1.4% during the 4th quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock valued at $777,000 after buying an additional 50 shares in the last quarter. Physician Wealth Advisors Inc. grew its holdings in Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after buying an additional 51 shares in the last quarter. Finally, ORG Partners LLC raised its position in shares of Snowflake by 3.3% during the fourth quarter. ORG Partners LLC now owns 1,796 shares of the company’s stock valued at $394,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNOW. Jefferies Financial Group upped their target price on shares of Snowflake from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday. Evercore set a $200.00 price target on shares of Snowflake in a research note on Tuesday, April 14th. Scotiabank increased their price objective on shares of Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a report on Monday, June 8th. Oppenheimer raised their price objective on Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Finally, Stifel Nicolaus lifted their price objective on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Thirty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $296.27.

Snowflake Stock Performance

Shares of Snowflake stock opened at $270.92 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average price is $232.28 and its 200-day moving average price is $194.18. The firm has a market cap of $93.90 billion, a P/E ratio of -76.97 and a beta of 1.35. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping 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 company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. On average, equities research analysts expect that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $141.60, for a total value of $7,127,860.80. Following the completion of the transaction, the director owned 28,556 shares of the company’s stock, valued at $4,043,529.60. The trade was a 63.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the sale, the director owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. This represents a 91.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,802,015 shares of company stock worth $421,739,629. Corporate insiders own 4.80% of the company’s stock.

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.