Keystone Investors PTE Ltd. Buys 19,236 Shares of Snowflake Inc. $SNOW

Keystone Investors PTE Ltd. lifted its stake in Snowflake Inc. (NYSE:SNOW) by 85.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,871 shares of the company’s stock after purchasing an additional 19,236 shares during the quarter. Keystone Investors PTE Ltd.’s holdings in Snowflake were worth $9,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Assetmark Inc. lifted its position in Snowflake by 99.1% in the 4th quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock valued at $43,577,000 after acquiring an additional 98,870 shares in the last quarter. Jennison Associates LLC lifted its position in Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after acquiring an additional 2,519,413 shares in the last quarter. William Blair Investment Management LLC bought a new position in Snowflake in the 3rd quarter valued at approximately $116,882,000. Swedbank AB lifted its position in Snowflake by 6.0% in the 4th quarter. Swedbank AB now owns 1,330,415 shares of the company’s stock valued at $291,840,000 after acquiring an additional 75,419 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Snowflake by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock valued at $6,461,465,000 after acquiring an additional 857,832 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $245.21, for a total value of $98,819.63. Following the completion of the sale, the director directly owned 22,106 shares in the company, valued at $5,420,612.26. This represents a 1.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,729 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $239.00, for a total value of $652,231.00. Following the completion of the sale, the executive vice president owned 413,002 shares of the company’s stock, valued at $98,707,478. This trade represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 1,589,550 shares of company stock valued at $359,438,410. Company insiders own 4.80% of the company’s stock.

Snowflake Trading Down 3.3%

NYSE:SNOW opened at $232.38 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $80.54 billion, a price-to-earnings ratio of -66.02 and a beta of 1.35. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The business has a fifty day moving average price of $173.64 and a 200-day moving average price of $190.21.

Snowflake (NYSE:SNOW) last posted 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 firm 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%.Snowflake’s revenue was up 33.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. Sell-side analysts forecast that Snowflake Inc. will post -1.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup upped their price objective on Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Snowflake in a research report on Thursday, May 28th. Sanford C. Bernstein upped their price objective on Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a research report on Thursday, May 28th. Evercore set a $200.00 price objective on Snowflake in a research report on Tuesday, April 14th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Snowflake in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.