Delta Global Management LP Buys 45,883 Shares of Snowflake Inc. $SNOW

Delta Global Management LP grew its stake in Snowflake Inc. (NYSE:SNOW) by 57.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,559 shares of the company’s stock after acquiring an additional 45,883 shares during the period. Snowflake accounts for 1.3% of Delta Global Management LP’s holdings, making the stock its 16th biggest holding. Delta Global Management LP’s holdings in Snowflake were worth $27,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in SNOW. Greenline Wealth Management LLC purchased a new stake in shares of Snowflake in the 4th quarter worth approximately $29,000. GoalVest Advisory LLC lifted its position in shares of Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the period. Physician Wealth Advisors Inc. lifted its position 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 purchasing an additional 51 shares during the period. HHM Wealth Advisors LLC lifted its position in shares of Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares during the period. Finally, Ameriflex Group Inc. lifted its position in shares of Snowflake by 252.2% in the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock worth $37,000 after purchasing an additional 116 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the transaction, the director directly owned 8,801 shares of the company’s stock, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 437,076 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the completion of the transaction, the director directly owned 38,046 shares in the company, valued at approximately $9,603,951.78. This represents a 91.99% 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 have sold a total of 1,578,690 shares of company stock valued at $357,534,217 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SNOW shares. Scotiabank increased their target price on shares of Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a research report on Monday, June 8th. Wedbush upped 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. Weiss Ratings lowered shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. DA Davidson upped their price target on shares of Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, TD Cowen restated a “buy” rating and set a $300.00 price target on shares of Snowflake in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $291.77.

Snowflake Stock Up 3.4%

NYSE:SNOW opened at $240.61 on Tuesday. The firm has a market capitalization of $83.40 billion, a P/E ratio of -68.35 and a beta of 1.35. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $284.99. The company’s fifty day moving average price is $175.41 and its 200-day moving average price is $189.78. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm’s revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the business earned $0.24 earnings per share. As a group, equities research analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current year.

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.