Snowflake Inc. $SNOW Shares Newly Purchased by Context Capital Management LLC

Context Capital Management LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 48,600 shares of the company’s stock, valued at approximately $16,503,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Reyes Financial Architecture Inc. acquired a new stake in shares of Snowflake in the 3rd quarter worth approximately $32,000. Mather Group LLC. boosted its holdings in shares of Snowflake by 98.0% in the third quarter. Mather Group LLC. now owns 101 shares of the company’s stock valued at $34,000 after acquiring an additional 50 shares in the last quarter. Ninety One UK Ltd bought a new position in shares of Snowflake in the third quarter valued at approximately $36,000. Fortitude Family Office LLC boosted its holdings in shares of Snowflake by 146.7% in the third quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 66 shares in the last quarter. Finally, GK Wealth Management LLC bought a new position in shares of Snowflake in the third quarter valued at approximately $41,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNOW. Rosenblatt Securities raised their price objective on shares of Snowflake from $285.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, September 1st. Phillip Securities downgraded Snowflake from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, October 12th. Monness Crespi & Hardt upped their target price on Snowflake from $380.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Robert W. Baird set a $450.00 price target on Snowflake in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Snowflake from $285.00 to $426.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Thirty-six 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $413.87.

Snowflake Price Performance

Shares of NYSE SNOW opened at $295.95 on Wednesday. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $384.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $104.41 billion, a price-to-earnings ratio of -93.07 and a beta of 1.32. The firm has a 50-day moving average of $326.53 and a two-hundred day moving average of $242.50.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.17. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, analysts expect that Snowflake Inc. will post -1.42 earnings per share for the current fiscal year.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Supply-chain software provider project44 is using Snowflake to turn supply-chain data into AI-powered decisions, offering a customer example of the platform’s AI use cases. Article: project44 Turns Supply Chain Data Into AI-Powered Decisions with Snowflake
• Positive Sentiment: A fund with about $4.7 billion under management reported a new Snowflake stake in its latest 13F filing. The disclosure may signal institutional interest, though the position was reported as of June 30. Article: A $4.7 Billion Fund Bought These 3 Stocks
• Neutral Sentiment: Snowflake shares advanced even as the market declined, but the market recap offered no specific explanation for the outperformance. Article: Why the Market Dipped But Snowflake Gained
• Negative Sentiment: Director Michael Speiser reported selling Snowflake shares on Nov. 6, including a large sale. The transactions were made under a pre-arranged Rule 10b5-1 plan, which can make the sales less indicative of a fresh view on the company.
• Negative Sentiment: Snowflake remains more than 20% below its September high, and investors will look to its Dec. 2 earnings report for evidence that AI-related growth is holding up. Commentary also flags its lack of consistent profitability and high valuation as risks. Article: Snowflake Is 20% Off Its September High

Insider Buying and Selling at Snowflake

In related news, Director Michael Speiser sold 840 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $275.92, for a total transaction of $231,772.80. Following the completion of the sale, the director directly owned 23,516 shares of the company’s stock, valued at $6,488,534.72. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the sale, the director owned 19,024 shares of the company’s stock, valued at $6,019,764.32. The trade was a 94.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,186,443 shares of company stock valued at $387,734,752 in the last ninety days. Company insiders own 4.80% of the company’s stock.

Snowflake Company Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.