42,001 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Federated Hermes Inc.

Federated Hermes Inc. acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,001 shares of the company’s stock, valued at approximately $8,358,000.

A number of other large investors also recently added to or reduced their stakes in SNOW. FMR LLC raised its position in Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares during the period. Winslow Capital Management LLC acquired a new position in Snowflake during the third quarter worth $226,302,000. Vanguard Group Inc. raised its position in Snowflake by 4.0% during the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after acquiring an additional 743,211 shares during the period. Wellington Management Group LLP raised its position in Snowflake by 69.9% during the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after acquiring an additional 623,277 shares during the period. Finally, International Assets Investment Management LLC raised its position in Snowflake by 19,321.5% during the fourth quarter. International Assets Investment Management LLC now owns 508,843 shares of the company’s stock worth $101,260,000 after acquiring an additional 506,223 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the senior vice president now owns 736,567 shares of the company’s stock, valued at $162,044,740. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the senior vice president now owns 736,567 shares of the company’s stock, valued at $162,044,740. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,533 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the completion of the sale, the executive now directly owns 98,172 shares in the company, valued at approximately $19,638,326.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,209 shares of company stock valued at $34,291,592. 8.30% of the stock is currently owned by company insiders.

Snowflake Price Performance

NYSE SNOW opened at $155.01 on Thursday. The firm has a 50 day simple moving average of $172.95 and a 200-day simple moving average of $179.15. Snowflake Inc. has a one year low of $135.26 and a one year high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The business had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Equities research analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Bank of America reduced their price objective on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Needham & Company LLC reduced their target price on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. Barclays reduced their target price on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. Finally, Raymond James increased their target price on shares of Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Profile

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.