Snowflake Inc. $SNOW Stock Purchased by Lido Advisors LLC

Lido Advisors LLC grew its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 7.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,756 shares of the company’s stock after buying an additional 8,544 shares during the quarter. Lido Advisors LLC’s holdings in Snowflake were worth $41,363,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Janus Henderson Group PLC grew its position in Snowflake by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after acquiring an additional 544,960 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Snowflake by 76.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company’s stock valued at $176,736,000 after purchasing an additional 509,230 shares during the period. Swiss National Bank grew its holdings in shares of Snowflake by 7.1% in the first quarter. Swiss National Bank now owns 944,600 shares of the company’s stock worth $142,465,000 after purchasing an additional 62,600 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Snowflake by 134.5% in the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company’s stock worth $268,351,000 after purchasing an additional 453,342 shares during the last quarter. Finally, CI Investments Inc. grew its holdings in shares of Snowflake by 34.6% in the first quarter. CI Investments Inc. now owns 720,810 shares of the company’s stock worth $108,713,000 after purchasing an additional 185,261 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Supply-chain software provider project44 is using Snowflake to turn supply-chain data into AI-powered decisions, offering a customer example of the platform’s AI use cases. Article: project44 Turns Supply Chain Data Into AI-Powered Decisions with Snowflake
• Positive Sentiment: A fund with about $4.7 billion under management reported a new Snowflake stake in its latest 13F filing. The disclosure may signal institutional interest, though the position was reported as of June 30. Article: A $4.7 Billion Fund Bought These 3 Stocks
• Neutral Sentiment: Snowflake shares advanced even as the market declined, but the market recap offered no specific explanation for the outperformance. Article: Why the Market Dipped But Snowflake Gained
• Negative Sentiment: Director Michael Speiser reported selling Snowflake shares on Nov. 6, including a large sale. The transactions were made under a pre-arranged Rule 10b5-1 plan, which can make the sales less indicative of a fresh view on the company.
• Negative Sentiment: Snowflake remains more than 20% below its September high, and investors will look to its Dec. 2 earnings report for evidence that AI-related growth is holding up. Commentary also flags its lack of consistent profitability and high valuation as risks. Article: Snowflake Is 20% Off Its September High

Snowflake Price Performance

SNOW opened at $295.95 on Wednesday. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $384.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The business’s fifty day simple moving average is $326.53 and its 200-day simple moving average is $242.50. The company has a market capitalization of $104.41 billion, a price-to-earnings ratio of -93.07 and a beta of 1.32.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. On average, equities research analysts anticipate that Snowflake Inc. will post -1.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities lifted their price objective on shares of Snowflake from $285.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Yorkville Ives began coverage on shares of Snowflake in a research report on Monday, October 5th. They issued an “outperform” rating and a $400.00 price objective for the company. Canaccord Genuity Group upped their target price on shares of Snowflake from $325.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Snowflake in a research note on Thursday, September 3rd. Finally, Truist Financial set a $425.00 target price on shares of Snowflake and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Thirty-six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $413.87.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael Speiser sold 50,338 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $353.87, for a total transaction of $17,813,108.06. Following the transaction, the director owned 25,196 shares of the company’s stock, valued at approximately $8,916,108.52. This trade represents a 66.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $325.57, for a total transaction of $4,883,550.00. Following the completion of the sale, the executive vice president owned 325,379 shares of the company’s stock, valued at approximately $105,933,641.03. This represents a 4.41% decrease in their position. 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. Over the last quarter, insiders sold 1,186,443 shares of company stock worth $387,734,752. Company insiders own 4.80% of the company’s stock.

Snowflake Company Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.