Temasek Holdings Private Ltd grew its stake in Snowflake Inc. (NYSE:SNOW – Free Report) by 96.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 368,528 shares of the company’s stock after purchasing an additional 181,101 shares during the period. Temasek Holdings Private Ltd owned approximately 0.11% of Snowflake worth $80,840,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. L2 Asset Management LLC lifted its stake in shares of Snowflake by 14.7% in the 4th quarter. L2 Asset Management LLC now owns 1,582 shares of the company’s stock valued at $347,000 after purchasing an additional 203 shares during the last quarter. 71 West Capital Partners bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $1,142,000. Faithward Advisors LLC lifted its stake in shares of Snowflake by 3.4% in the 4th quarter. Faithward Advisors LLC now owns 19,077 shares of the company’s stock valued at $4,185,000 after purchasing an additional 632 shares during the last quarter. Sienna Gestion bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $1,326,000. Finally, TritonPoint Partners LLC bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $694,000. 65.10% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
SNOW has been the subject of several analyst reports. Rosenblatt Securities raised their price objective on Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Zacks Research upgraded Snowflake from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. DA Davidson increased their price target on Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Scotiabank increased their price target on Snowflake from $285.00 to $320.00 and gave the stock a “sector outperform” rating in a report on Monday, June 8th. Finally, KeyCorp set a $295.00 price target on Snowflake in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $291.77.
Insiders Place Their Bets
In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the transaction, the director directly owned 29,396 shares in the company, valued at $4,356,781.16. This trade represents a 63.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68. Following the transaction, the director owned 38,046 shares in the company, valued at $9,603,951.78. The trade was a 91.99% 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. Insiders have sold 1,578,690 shares of company stock worth $357,534,217 in the last ninety days. 4.80% of the stock is owned by company insiders.
Snowflake Trading Up 3.4%
Shares of NYSE SNOW opened at $240.61 on Tuesday. The business’s 50 day moving average price is $175.41 and its 200-day moving average price is $189.78. The company has a market cap of $83.40 billion, a price-to-earnings ratio of -68.35 and a beta of 1.35. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two 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.
Snowflake (NYSE:SNOW – Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 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 the consensus estimate 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 last year, the business posted $0.24 EPS. On average, sell-side analysts expect that Snowflake Inc. will post -1.87 earnings per share for the current year.
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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