Jupiter Asset Management Ltd. Purchases Shares of 6,343 Snowflake Inc. $SNOW

Jupiter Asset Management Ltd. purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,343 shares of the company’s stock, valued at approximately $1,419,000.

A number of other institutional investors and hedge funds have also modified their holdings of SNOW. Brighton Jones LLC lifted its position in Snowflake by 90.0% during 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 during the last quarter. Signaturefd LLC grew its position in shares of Snowflake by 20.8% in the first quarter. Signaturefd LLC now owns 2,918 shares of the company’s stock valued at $426,000 after purchasing an additional 502 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Snowflake by 32.9% in the first quarter. Sigma Planning Corp now owns 2,647 shares of the company’s stock worth $387,000 after purchasing an additional 655 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Snowflake by 19.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 117,361 shares of the company’s stock worth $17,153,000 after purchasing an additional 18,902 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its position in shares of Snowflake by 10.6% during the 1st quarter. Wealthfront Advisers LLC now owns 9,993 shares of the company’s stock worth $1,461,000 after purchasing an additional 960 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Up 0.2%

SNOW opened at $257.40 on Friday. The company has a market capitalization of $87.21 billion, a P/E ratio of -62.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The firm’s fifty day moving average price is $244.05 and its two-hundred day moving average price is $218.43. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $224.85, for a total value of $11,318,499.30. Following the completion of the transaction, the director directly owned 35,276 shares of the company’s stock, valued at approximately $7,931,808.60. This represents a 58.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total value of $2,335,000.00. Following the completion of the sale, the executive vice president directly owned 527,336 shares in the company, valued at approximately $123,132,956. This represents a 1.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 931,388 shares of company stock worth $216,578,628 in the last three months. 6.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research analyst reports. Stephens initiated coverage on Snowflake in a report on Friday, July 18th. They issued an “overweight” rating and a $261.00 target price on the stock. Robert W. Baird raised their price objective on shares of Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. BTIG Research boosted their target price on shares of Snowflake from $276.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho upped their target price on shares of Snowflake from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Finally, Piper Sandler increased their price target on shares of Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $259.89.

Snowflake 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.