Snowflake Inc. $SNOW Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its holdings in Snowflake Inc. (NYSE:SNOW) by 4,284.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 696,278 shares of the company’s stock after buying an additional 680,397 shares during the quarter. OMERS ADMINISTRATION Corp owned 0.20% of Snowflake worth $105,013,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $974,091,000. Jennison Associates LLC increased its holdings in Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after acquiring an additional 2,519,413 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in Snowflake in the 4th quarter worth $345,619,000. Vanguard Group Inc. raised its position in Snowflake by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after acquiring an additional 1,448,094 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Snowflake by 445.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,490,569 shares of the company’s stock worth $326,971,000 after acquiring an additional 1,217,350 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE:SNOW opened at $268.15 on Friday. The company’s 50-day moving average price is $239.11 and its 200-day moving average price is $195.38. 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 company has a market cap of $92.94 billion, a P/E ratio of -76.18 and a beta of 1.35. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $284.99.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. Snowflake’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 EPS. On average, sell-side analysts forecast that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on SNOW shares. Barclays lifted their target price on shares of Snowflake from $272.00 to $285.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Royal Bank Of Canada upped their price target on shares of Snowflake from $284.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Wedbush raised their price target on shares of Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Evercore set a $200.00 price objective on Snowflake in a report on Tuesday, April 14th. Finally, Rosenblatt Securities boosted their price objective on Snowflake from $275.00 to $285.00 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.27.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $141.60, for a total value of $7,127,860.80. Following the completion of the sale, the director directly owned 28,556 shares in the company, valued at $4,043,529.60. This represents a 63.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the sale, the director directly owned 38,046 shares of the company’s stock, valued at approximately $9,603,951.78. This represents a 91.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,802,015 shares of company stock worth $421,739,629 in the last ninety days. Insiders own 4.80% of the company’s stock.

Snowflake Profile

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.