Snowflake Inc. $SNOW Shares Sold by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 44.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 203,750 shares of the company’s stock after selling 164,778 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Snowflake were worth $30,730,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Snowflake during the 4th quarter valued at $28,000. Greenline Wealth Management LLC acquired a new position in shares of Snowflake in the 4th quarter worth $29,000. Physician Wealth Advisors Inc. grew its holdings in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after acquiring an additional 51 shares during the last quarter. Emerald Advisers LLC grew its holdings in shares of Snowflake by 95.2% in the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new stake in shares of Snowflake during the fourth quarter worth $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW opened at $270.92 on Wednesday. The stock has a fifty day moving average of $232.28 and a 200-day moving average of $194.18. The firm has a market capitalization 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. 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 (NYSE:SNOW) last issued its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. Equities analysts forecast that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Insider Activity

In other Snowflake news, Director Teresa Briggs sold 343 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $255.11, for a total transaction of $87,502.73. Following the completion of the sale, the director directly owned 5,060 shares in the company, valued at approximately $1,290,856.60. This trade represents a 6.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Emily Ho sold 1,860 shares of Snowflake stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $232.25, for a total value of $431,985.00. Following the transaction, the chief accounting officer directly owned 41,283 shares in the company, valued at approximately $9,587,976.75. This trade represents a 4.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,802,015 shares of company stock worth $421,739,629. Corporate insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several analyst reports. Loop Capital upped their target price on Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Truist Financial lifted their price target on Snowflake from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Piper Sandler boosted 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. Wedbush upped their price objective 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. Finally, Benchmark upped their price objective on shares of Snowflake from $200.00 to $270.00 and gave the company 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $296.27.

Snowflake Company 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.