Panagora Asset Management Inc. Has $76.18 Million Position in Snowflake Inc. $SNOW

Panagora Asset Management Inc. boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 51.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,291 shares of the company’s stock after buying an additional 117,991 shares during the period. Panagora Asset Management Inc. owned about 0.10% of Snowflake worth $76,182,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SNOW. Greenline Wealth Management LLC acquired a new stake in Snowflake during the fourth quarter worth $29,000. GoalVest Advisory LLC raised its holdings in shares of Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after buying an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after buying an additional 51 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings in shares of Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after buying an additional 50 shares during the last quarter. Finally, Ameriflex Group Inc. raised its holdings in shares of Snowflake by 252.2% in the third quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock valued at $37,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $232.38 on Monday. The firm has a market capitalization of $80.54 billion, a P/E ratio of -66.02 and a beta of 1.35. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The business has a 50-day moving average of $173.64 and a 200-day moving average of $189.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. On average, equities analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current year.

Insider Transactions at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $148.21, for a total value of $7,460,594.98. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the transaction, the director owned 38,046 shares of the company’s stock, valued at $9,603,951.78. This represents a 91.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,589,550 shares of company stock worth $359,438,410. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SNOW. DA Davidson lifted their price target on Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Monness Crespi & Hardt lifted their price target on Snowflake from $282.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Bank of America lifted their price target on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Needham & Company LLC lifted their price target on Snowflake from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Stifel Nicolaus lifted their price target on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $291.77.

About Snowflake

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.