Blue Jean Financial LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,594 shares of the company’s stock, valued at approximately $1,666,000. Snowflake accounts for about 1.4% of Blue Jean Financial LLC’s portfolio, making the stock its 28th biggest position.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Snowflake by 5.1% during the 4th 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 grew its position 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 purchasing an additional 2,519,413 shares in the last quarter. Nuveen LLC grew its position in shares of Snowflake by 2.3% during the 4th quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after purchasing an additional 116,521 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Snowflake by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after acquiring an additional 249,668 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $974,091,000. Institutional investors and hedge funds own 65.10% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on SNOW shares. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Wednesday, February 18th. Citizens Jmp reiterated a “market outperform” rating and issued a $325.00 price target on shares of Snowflake in a research note on Tuesday, May 19th. Mizuho lifted their price target on Snowflake from $220.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. The Goldman Sachs Group lifted their price target on Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Needham & Company LLC lifted their price target on Snowflake from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. One research 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 issued a Sell rating to the company. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $291.77.
Snowflake Price Performance
Shares of NYSE:SNOW opened at $232.38 on Friday. The firm has a market cap of $80.54 billion, a PE ratio of -66.02 and a beta of 1.35. The firm’s fifty day moving average is $173.64 and its 200-day moving average is $190.21. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99.
Snowflake (NYSE:SNOW – Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 23.79% and a negative return on equity of 50.50%. Snowflake’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. Sell-side analysts predict that Snowflake Inc. will post -1.87 earnings per share for the current year.
Insider Transactions at Snowflake
In related news, Director Mark Garrett sold 100,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the transaction, the director owned 8,801 shares in the company, valued at $2,200,250. The trade was a 91.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the completion of the transaction, the director owned 29,396 shares in the company, valued at approximately $4,356,781.16. The trade was a 63.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,589,550 shares of company stock worth $359,438,410. Company insiders own 4.80% of the company’s stock.
Snowflake Company 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.
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