2,017 Shares in Snowflake Inc. $SNOW Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,017 shares of the company’s stock, valued at approximately $513,000.

Several other institutional investors have also added to or reduced their stakes in the business. Johnson Investment Counsel Inc. lifted its holdings in shares of Snowflake by 4.5% during the fourth quarter. Johnson Investment Counsel Inc. now owns 1,383 shares of the company’s stock valued at $303,000 after purchasing an additional 60 shares in the last quarter. Great Valley Advisor Group Inc. boosted its position in shares of Snowflake by 4.4% during the fourth quarter. Great Valley Advisor Group Inc. now owns 1,438 shares of the company’s stock valued at $316,000 after buying an additional 60 shares during the last quarter. LRI Investments LLC increased its holdings in Snowflake by 4.5% in the 4th quarter. LRI Investments LLC now owns 1,437 shares of the company’s stock worth $315,000 after buying an additional 62 shares in the last quarter. First Manhattan CO. LLC. increased its holdings in Snowflake by 6.7% in the 4th quarter. First Manhattan CO. LLC. now owns 1,022 shares of the company’s stock worth $224,000 after buying an additional 64 shares in the last quarter. Finally, L2 Asset Management LLC raised its position in Snowflake by 4.9% in the 3rd quarter. L2 Asset Management LLC now owns 1,379 shares of the company’s stock worth $311,000 after buying an additional 64 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 25,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $325.00, for a total value of $8,125,000.00. Following the transaction, the executive vice president directly owned 340,379 shares in the company, valued at approximately $110,623,175. This trade represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $245.21, for a total transaction of $12,343,380.98. Following the completion of the transaction, the director owned 27,716 shares in the company, valued at $6,796,240.36. The trade was a 64.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,329,825 shares of company stock valued at $367,408,410. 4.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on SNOW. Citizens Jmp upped their target price on shares of Snowflake from $325.00 to $408.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 18th. Robert W. Baird lifted their price target on shares of Snowflake from $280.00 to $350.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a report on Monday, August 24th. DA Davidson increased their price objective on shares of Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Evercore restated an “outperform” rating and issued a $360.00 target price on shares of Snowflake in a report on Monday, August 10th. Thirty-four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.14.

Snowflake Trading Down 0.6%

Shares of NYSE:SNOW opened at $327.08 on Friday. The stock has a market capitalization of $113.37 billion, a price-to-earnings ratio of -92.92 and a beta of 1.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $287.74 and its two-hundred day simple moving average is $215.01. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $341.95.

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. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. Analysts expect that Snowflake Inc. will post -1.81 EPS for the current year.

About Snowflake

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.