6,813 Snowflake Inc. $SNOW Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 361,516 shares of the company’s stock after selling 6,813 shares during the period. Snowflake accounts for 2.8% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 12th largest holding. Zevenbergen Capital Investments LLC owned approximately 0.10% of Snowflake worth $122,756,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Jericho Capital Asset Management L.P. bought a new stake in shares of Snowflake in the fourth quarter worth about $345,619,000. Pictet Asset Management Holding SA boosted its stake in Snowflake by 44.7% during the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock valued at $392,259,000 after buying an additional 803,110 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its stake in Snowflake by 4,284.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 696,278 shares of the company’s stock valued at $105,013,000 after buying an additional 680,397 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Snowflake by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after buying an additional 544,960 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Snowflake by 76.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company’s stock valued at $176,736,000 after buying an additional 509,230 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 3.3%

NYSE SNOW traded up $11.05 on Thursday, hitting $343.90. 3,988,343 shares of the stock were exchanged, compared to its average volume of 6,522,898. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $384.56. The firm has a market capitalization of $121.33 billion, a P/E ratio of -108.14 and a beta of 1.35. The stock has a fifty day moving average price of $328.81 and a two-hundred day moving average price of $246.65.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.17. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Research analysts forecast that Snowflake Inc. will post -1.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Evercore reaffirmed an “outperform” rating and set a $430.00 price objective on shares of Snowflake in a report on Thursday, September 3rd. BTIG Research upped their price target on shares of Snowflake from $340.00 to $424.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Thursday, September 3rd. JPMorgan Chase & Co. increased their price objective on shares of Snowflake from $285.00 to $426.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Finally, Rosenblatt Securities lifted their price objective on shares of Snowflake from $285.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.24.

Insider Activity

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $344.00, for a total value of $138,632.00. Following the transaction, the director directly owned 21,767 shares in the company, valued at $7,487,848. This represents a 1.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 102,791 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $335.22, for a total transaction of $34,457,599.02. Following the transaction, the director directly owned 19,024 shares in the company, valued at approximately $6,377,225.28. This trade represents a 84.38% 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. In the last three months, insiders sold 1,246,429 shares of company stock valued at $396,227,952. Insiders own 4.80% of the company’s stock.

Snowflake Profile

Snowflake Inc (NYSE: SNOW) provides a cloud-based data platform that enables organizations to store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and artificial intelligence workloads in a single environment.

Snowflake’s services include cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace.