Napean Trading & Investment Co Singapore PTE Ltd Sells 19,341 Shares of Snowflake Inc. $SNOW

Napean Trading & Investment Co Singapore PTE Ltd lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 36.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,577 shares of the company’s stock after selling 19,341 shares during the period. Snowflake accounts for 1.4% of Napean Trading & Investment Co Singapore PTE Ltd’s holdings, making the stock its 18th biggest position. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Snowflake were worth $7,365,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SNOW. Greenline Wealth Management LLC bought a new stake in Snowflake in the 4th quarter valued at $29,000. GoalVest Advisory LLC raised its stake in Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares during the period. Physician Wealth Advisors Inc. raised its stake in Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after acquiring an additional 51 shares during the period. HHM Wealth Advisors LLC raised its stake in Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after acquiring an additional 50 shares during the period. Finally, Ameriflex Group Inc. raised its stake in Snowflake by 252.2% in the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock valued at $37,000 after acquiring an additional 116 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SNOW. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Wednesday, February 18th. Wedbush increased their price objective on Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Mizuho increased their price objective on Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Weiss Ratings cut Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. Finally, BTIG Research increased their price objective on Snowflake from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. One 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. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $291.77.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 2,729 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $239.00, for a total transaction of $652,231.00. Following the sale, the executive vice president directly owned 413,002 shares of the company’s stock, valued at approximately $98,707,478. This represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $245.21, for a total value of $98,819.63. Following the sale, the director directly owned 22,106 shares in the company, valued at approximately $5,420,612.26. This trade represents a 1.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,589,550 shares of company stock valued at $359,438,410. Company insiders own 4.80% of the company’s stock.

Snowflake Stock Performance

SNOW opened at $232.38 on Friday. The firm has a market cap of $80.54 billion, a P/E ratio of -66.02 and a beta of 1.35. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. 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 business’s fifty day moving average is $173.64 and its 200-day moving average is $190.21.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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 return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. Sell-side analysts expect that Snowflake Inc. will post -1.87 EPS for the current fiscal 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.