Rathbones Group PLC Boosts Stake in Snowflake Inc. $SNOW

Rathbones Group PLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 15.6% in the second quarter, HoldingsChannel.com reports. The firm owned 2,303 shares of the company’s stock after acquiring an additional 311 shares during the quarter. Rathbones Group PLC’s holdings in Snowflake were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in Snowflake by 164.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,484 shares of the company’s stock valued at $10,849,000 after buying an additional 30,122 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Snowflake by 15.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 351,194 shares of the company’s stock valued at $78,587,000 after acquiring an additional 46,678 shares during the period. Aviva PLC lifted its holdings in shares of Snowflake by 12.1% in the 2nd quarter. Aviva PLC now owns 233,353 shares of the company’s stock worth $52,217,000 after acquiring an additional 25,124 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Snowflake by 98.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 135,795 shares of the company’s stock worth $30,387,000 after acquiring an additional 67,437 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Snowflake by 61.5% during the 2nd quarter. True Wealth Design LLC now owns 877 shares of the company’s stock worth $196,000 after purchasing an additional 334 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNOW has been the topic of a number of research analyst reports. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday, August 28th. DA Davidson reissued a “buy” rating and set a $250.00 target price on shares of Snowflake in a research note on Monday, August 25th. Royal Bank Of Canada raised their target price on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. UBS Group boosted their price target on shares of Snowflake from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, BTIG Research increased their price target on shares of Snowflake from $235.00 to $276.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $258.95.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the sale, the executive vice president owned 522,450 shares of the company’s stock, valued at approximately $145,100,038.50. This represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $257.29, for a total value of $103,687.87. Following the completion of the sale, the director owned 24,927 shares in the company, valued at $6,413,467.83. This represents a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 931,388 shares of company stock valued at $216,578,628 over the last quarter. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Up 1.0%

SNOW opened at $271.16 on Wednesday. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $91.87 billion, a P/E ratio of -65.34 and a beta of 1.23. The business’s 50-day simple moving average is $241.91 and its 200-day simple moving average is $217.11.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company posted $0.18 EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. Analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Snowflake Company 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.