Danske Bank A S Acquires 15,112 Shares of Snowflake Inc. $SNOW

Danske Bank A S grew its holdings in Snowflake Inc. (NYSE:SNOW) by 9.3% during the fourth quarter, Holdings Channel reports. The firm owned 178,480 shares of the company’s stock after acquiring an additional 15,112 shares during the quarter. Danske Bank A S’s holdings in Snowflake were worth $39,151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after purchasing an additional 1,448,094 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Snowflake by 27.7% during the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after buying an additional 2,519,413 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Snowflake by 233.3% during the 3rd quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after buying an additional 1,473,354 shares in the last quarter. Northern Trust Corp grew its position in shares of Snowflake by 2.7% during the 3rd quarter. Northern Trust Corp now owns 2,089,150 shares of the company’s stock worth $471,208,000 after buying an additional 55,683 shares during the period. Finally, Coatue Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $441,277,000. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Snowflake from $204.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. TD Cowen reduced their price target on shares of Snowflake from $270.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Stifel Nicolaus set a $205.00 price target on shares of Snowflake in a research note on Thursday, February 26th. Wells Fargo & Company dropped their price objective on shares of Snowflake from $290.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Finally, Monness Crespi & Hardt increased their price objective on shares of Snowflake from $275.00 to $282.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.19.

Snowflake Stock Performance

NYSE SNOW opened at $141.28 on Friday. The company has a market cap of $48.84 billion, a P/E ratio of -35.77 and a beta of 1.08. The company has a fifty day simple moving average of $158.11 and a 200 day simple moving average of $203.04. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $280.67.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The business’s revenue was up 30.1% on a year-over-year basis. Sell-side analysts predict that Snowflake Inc. will post -2.16 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 11,299 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $175.25, for a total value of $1,980,149.75. Following the sale, the director owned 38,046 shares in the company, valued at $6,667,561.50. This represents a 22.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Vivek Raghunathan sold 3,876 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $152.80, for a total transaction of $592,252.80. Following the completion of the transaction, the senior vice president directly owned 273,323 shares in the company, valued at approximately $41,763,754.40. The trade was a 1.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 394,313 shares of company stock valued at $67,477,780 over the last quarter. 6.80% of the stock is currently owned by company insiders.

Snowflake 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.