Snowflake Inc. $SNOW Stake Boosted by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 8.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,546 shares of the company’s stock after buying an additional 4,800 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Snowflake were worth $13,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Coastline Trust Co boosted its stake in Snowflake by 1.0% in the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock worth $943,000 after purchasing an additional 42 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of Snowflake by 1.3% in the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after purchasing an additional 48 shares in the last quarter. Avion Wealth boosted its position in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the period. CX Institutional grew its holdings in shares of Snowflake by 13.2% during the third quarter. CX Institutional now owns 421 shares of the company’s stock valued at $95,000 after buying an additional 49 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in Snowflake by 44.1% during the third quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock valued at $36,000 after buying an additional 49 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

NYSE SNOW opened at $172.67 on Friday. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The stock’s 50-day moving average is $209.54 and its two-hundred day moving average is $225.37. The firm has a market cap of $59.09 billion, a P/E ratio of -42.74 and a beta of 1.14. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. On average, analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of research reports. Macquarie Infrastructure raised their price objective on Snowflake from $235.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Morgan Stanley restated an “overweight” rating and set a $299.00 price target on shares of Snowflake in a report on Tuesday, January 27th. Raymond James Financial reiterated an “outperform” rating on shares of Snowflake in a research note on Monday, February 2nd. JMP Securities lifted their target price on shares of Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 price target on shares of Snowflake in a report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $274.68.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $197.09, for a total value of $1,970,900.00. Following the sale, the executive vice president directly owned 461,351 shares of the company’s stock, valued at approximately $90,927,668.59. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Emily Ho sold 1,072 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $223.63, for a total value of $239,731.36. Following the transaction, the chief accounting officer directly owned 43,809 shares of the company’s stock, valued at $9,797,006.67. This represents a 2.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 613,681 shares of company stock valued at $130,573,518. 6.80% of the stock is owned by corporate insiders.

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.