Zevenbergen Capital Investments LLC Purchases 67,426 Shares of Snowflake Inc. $SNOW

Zevenbergen Capital Investments LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 435,633 shares of the company’s stock after buying an additional 67,426 shares during the quarter. Snowflake comprises approximately 2.1% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 13th largest position. Zevenbergen Capital Investments LLC owned 0.13% of Snowflake worth $95,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. Grey Fox Wealth Advisors LLC acquired a new position in Snowflake during the 3rd quarter worth $25,000. Tripletail Wealth Management LLC bought a new position in shares of Snowflake in the third quarter worth about $28,000. SJS Investment Consulting Inc. lifted its position in shares of Snowflake by 4,333.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares during the last quarter. GoalVest Advisory LLC lifted its position in shares of Snowflake by 221.4% during the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in Snowflake during the 3rd quarter valued at approximately $34,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frank Slootman sold 11,299 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $175.25, for a total value of $1,980,149.75. Following the sale, the director owned 38,046 shares of the company’s stock, valued at $6,667,561.50. The trade was a 22.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 2,621 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $170.01, for a total value of $445,596.21. Following the transaction, the executive vice president owned 533,494 shares of the company’s stock, valued at $90,699,314.94. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 612,238 shares of company stock valued at $116,741,495 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SNOW. KeyCorp dropped their price target on Snowflake from $285.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. BTIG Research lowered their price objective on shares of Snowflake from $312.00 to $235.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Truist Financial cut their target price on shares of Snowflake from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. DA Davidson decreased their price target on shares of Snowflake from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Argus upgraded shares of Snowflake from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.58.

Snowflake Trading Up 0.4%

Shares of Snowflake stock opened at $153.35 on Tuesday. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The firm has a market capitalization of $53.01 billion, a PE ratio of -38.82 and a beta of 1.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30. The company’s fifty day moving average price is $178.27 and its two-hundred day moving average price is $216.58.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. On average, analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

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.