Snowflake Inc. $SNOW Shares Acquired by Silicon Valley Capital Partners

Silicon Valley Capital Partners increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 15.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,087 shares of the company’s stock after acquiring an additional 8,208 shares during the period. Snowflake makes up about 1.4% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 21st largest position. Silicon Valley Capital Partners’ holdings in Snowflake were worth $15,801,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC boosted 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 valued at $1,157,749,000 after purchasing an additional 116,521 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Snowflake by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after purchasing an additional 249,668 shares in the last quarter. Norges Bank bought a new stake in shares of Snowflake in the 4th quarter worth approximately $974,091,000. Janus Henderson Group PLC lifted its stake in Snowflake by 22.2% during the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after purchasing an additional 544,960 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Snowflake by 44.7% during the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock valued at $392,259,000 after purchasing an additional 803,110 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In related news, SVP Vivek Raghunathan sold 3,876 shares of Snowflake stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $318.51, for a total transaction of $1,234,544.76. Following the completion of the sale, the senior vice president owned 240,453 shares of the company’s stock, valued at approximately $76,586,685.03. This trade represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, EVP Christian Kleinerman sold 2,986 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $318.51, for a total value of $951,070.86. Following the completion of the transaction, the executive vice president owned 334,013 shares in the company, valued at $106,386,480.63. This trade represents a 0.89% decrease in their position. The SEC filing for this sale provides additional information. 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 ninety days, insiders have sold 1,035,720 shares of company stock worth $312,258,835. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. Rosenblatt Securities lifted their target price on Snowflake from $285.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Snowflake in a research report on Tuesday, September 8th. Oppenheimer upped their price objective on shares of Snowflake from $400.00 to $475.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Cantor Fitzgerald raised their target price on shares of Snowflake from $405.00 to $430.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, Argus upped their price target on shares of Snowflake from $300.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, September 4th. Thirty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $414.24.

Snowflake Stock Up 1.5%

NYSE SNOW traded up $5.09 during trading on Monday, reaching $337.52. 3,689,930 shares of the company’s stock were exchanged, compared to its average volume of 6,710,785. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $384.56. The company’s fifty day simple moving average is $311.99 and its 200-day simple moving average is $231.94. The firm has a market capitalization of $119.08 billion, a PE ratio of -106.14 and a beta of 1.33.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%.The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. Sell-side analysts predict that Snowflake Inc. will post -1.57 EPS for the current year.

About Snowflake

Snowflake Inc (NYSE: SNOW) is a cloud-based data platform company that helps organizations store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and business intelligence across public cloud environments.

Snowflake’s Data Cloud enables customers to consolidate and access structured, semi-structured and unstructured data while supporting secure data sharing and collaboration. Its offerings include Snowflake Cortex, which provides artificial intelligence and machine-learning capabilities, as well as tools for developing data applications and using data from Snowflake’s marketplace and partner ecosystem.

Founded in 2012, Snowflake serves businesses, government organizations and other institutions globally through cloud infrastructure provided by major public-cloud platforms.