Bamco Inc. NY Decreases Stock Holdings in Snowflake Inc. $SNOW

Bamco Inc. NY lessened its stake in Snowflake Inc. (NYSE:SNOW) by 11.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 368,163 shares of the company’s stock after selling 47,046 shares during the period. Bamco Inc. NY’s holdings in Snowflake were worth $82,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snowflake in the 2nd quarter valued at about $3,900,134,000. Norges Bank bought a new position in shares of Snowflake during the 2nd quarter worth approximately $944,895,000. Winslow Capital Management LLC purchased a new stake in Snowflake during the second quarter valued at approximately $725,667,000. AQR Capital Management LLC boosted its stake in Snowflake by 346.2% in the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after acquiring an additional 2,460,769 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Snowflake by 20.5% in the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after purchasing an additional 1,363,389 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SNOW has been the subject of several analyst reports. Cantor Fitzgerald increased their price objective on Snowflake from $275.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $237.00 price target on shares of Snowflake in a research note on Thursday, December 4th. UBS Group restated a “buy” rating on shares of Snowflake in a research note on Thursday, December 4th. Morgan Stanley upped their price objective on shares of Snowflake from $272.00 to $299.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Finally, Rosenblatt Securities lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $274.78.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $257.30, for a total transaction of $12,951,967.40. Following the sale, the director directly owned 33,596 shares of the company’s stock, valued at $8,644,250.80. This trade represents a 59.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $223.88, for a total value of $2,238,800.00. Following the transaction, the executive vice president owned 532,450 shares of the company’s stock, valued at approximately $119,204,906. This represents a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 221,360 shares of company stock worth $53,391,315. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $217.95 on Friday. The company has a 50 day simple moving average of $250.24 and a two-hundred day simple moving average of $227.20. The stock has a market cap of $73.84 billion, a price-to-earnings ratio of -53.95 and a beta of 1.09. The company has a current ratio of 1.37, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The firm’s revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. As a group, analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.