Snowflake Inc. $SNOW Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 52.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,111 shares of the company’s stock after buying an additional 5,909 shares during the quarter. Intech Investment Management LLC’s holdings in Snowflake were worth $3,829,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Snowflake by 1.2% in the 1st 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 stake in Snowflake in the second quarter worth approximately $3,900,134,000. Jennison Associates LLC lifted its position in Snowflake by 20.5% in the second 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 during the period. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $691,693,000 after purchasing an additional 763,673 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Snowflake by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,424,120 shares of the company’s stock valued at $986,057,000 after purchasing an additional 133,059 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW opened at $254.58 on Wednesday. The company has a 50-day moving average of $245.17 and a two-hundred day moving average of $220.49. The stock has a market cap of $86.25 billion, a price-to-earnings ratio of -61.35 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS 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 the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. On average, equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on SNOW shares. Sanford C. Bernstein upped their price objective on Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Cantor Fitzgerald raised their price objective on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Stifel Nicolaus lifted their price objective on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. JMP Securities boosted their target price on shares of Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $262.39.

Insider Activity

In other news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake 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 transaction, the director owned 24,927 shares in the company, valued at $6,413,467.83. This represents a 1.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 931,388 shares of company stock worth $216,578,628 over the last quarter. Corporate insiders own 6.80% of the company’s stock.

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.