Main Management ETF Advisors LLC Grows Stock Holdings in Snowflake Inc. $SNOW

Main Management ETF Advisors LLC raised its stake in Snowflake Inc. (NYSE:SNOW) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,859 shares of the company’s stock after buying an additional 276 shares during the period. Snowflake makes up approximately 0.2% of Main Management ETF Advisors LLC’s holdings, making the stock its 24th largest holding. Main Management ETF Advisors LLC’s holdings in Snowflake were worth $3,773,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Snowflake by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock valued at $6,218,515,000 after purchasing an additional 595,553 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake in the second quarter valued at approximately $3,900,134,000. Jennison Associates LLC increased its stake in shares of Snowflake by 20.5% during the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after purchasing an additional 1,363,389 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Snowflake by 15.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock worth $1,108,045,000 after purchasing an additional 652,485 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after buying an additional 763,673 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 0.5%

Shares of SNOW stock opened at $253.14 on Thursday. The firm has a market cap of $85.76 billion, a P/E ratio of -61.00 and a beta of 1.23. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. 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 50-day simple moving average is $245.71 and its 200-day simple moving average is $220.71.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. Snowflake’s revenue was up 31.8% compared to the same quarter last year. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Transactions at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the transaction, the executive vice president owned 522,450 shares in the company, valued at approximately $145,100,038.50. This trade represents a 1.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 931,388 shares of company stock worth $216,578,628 in the last ninety days. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNOW shares. Cowen reissued a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Canaccord Genuity Group lifted their price objective on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. The Goldman Sachs Group raised their price target on shares of Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Wedbush lifted their price target on shares of Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, KeyCorp upped their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.39.

About Snowflake

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.