Los Angeles Capital Management LLC Has $30.39 Million Stock Holdings in Snowflake Inc. $SNOW

Los Angeles Capital Management LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 98.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,795 shares of the company’s stock after purchasing an additional 67,437 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Snowflake were worth $30,387,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Snowflake by 1.2% during the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after acquiring an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Snowflake in the 2nd quarter worth $3,900,134,000. Jennison Associates LLC increased its holdings in Snowflake by 20.5% during the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after purchasing an additional 1,363,389 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Snowflake by 19.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after purchasing an additional 763,673 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at about $555,847,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the sale, the executive vice president directly owned 527,336 shares in the company, valued at approximately $123,132,956. The trade was a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 880,647 shares of company stock worth $203,522,973. Insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup reaffirmed a “market outperform” rating on shares of Snowflake in a research report on Tuesday, October 28th. The Goldman Sachs Group boosted their target price on Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Raymond James Financial upped their price target on Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Oppenheimer reiterated an “outperform” rating and issued a $295.00 price objective on shares of Snowflake in a report on Friday, October 17th. Finally, Truist Financial boosted their price objective on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Two investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $258.95.

Snowflake Trading Down 0.8%

Shares of Snowflake stock opened at $262.72 on Friday. The stock has a market cap of $89.01 billion, a P/E ratio of -63.31 and a beta of 1.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12-month low of $119.66 and a 12-month high of $280.67. The business’s 50 day moving average is $240.55 and its 200-day moving average is $215.06.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $0.18 earnings per share. The firm’s revenue was up 31.8% on a year-over-year basis. Equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.