Diversified Trust Co Purchases 9,423 Shares of Snowflake Inc. $SNOW

Diversified Trust Co increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 164.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,155 shares of the company’s stock after purchasing an additional 9,423 shares during the quarter. Diversified Trust Co’s holdings in Snowflake were worth $3,418,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Snowflake during the second quarter valued at about $6,845,000. Kingstone Capital Partners Texas LLC purchased a new position in Snowflake in the second quarter valued at about $3,900,134,000. Newbridge Financial Services Group Inc. boosted its stake in Snowflake by 81.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 20,141 shares of the company’s stock valued at $4,507,000 after acquiring an additional 9,052 shares during the last quarter. Goldstream Capital Management Ltd bought a new position in shares of Snowflake during the 2nd quarter valued at approximately $3,801,000. Finally, Vanguard Group Inc. increased its stake in shares of Snowflake by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock worth $6,218,515,000 after purchasing an additional 595,553 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Cantor Fitzgerald upped their price objective on Snowflake from $275.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Piper Sandler restated an “overweight” rating and issued a $285.00 target price on shares of Snowflake in a research note on Thursday, December 4th. Wells Fargo & Company upped their price target on Snowflake from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Canaccord Genuity Group increased their price target on Snowflake from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Finally, DA Davidson reissued a “buy” rating and issued a $300.00 price objective on shares of Snowflake in a report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.32.

Insider Activity

In other news, CAO Emily Ho sold 1,072 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $223.63, for a total value of $239,731.36. Following the completion of the transaction, the chief accounting officer directly owned 43,809 shares in the company, valued at approximately $9,797,006.67. This trade represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $230.65, for a total transaction of $11,610,459.70. Following the transaction, the director directly owned 32,756 shares of the company’s stock, valued at approximately $7,555,171.40. This represents a 60.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 401,880 shares of company stock valued at $93,291,032. Corporate insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $221.97 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The stock has a market cap of $75.96 billion, a PE ratio of -54.94 and a beta of 1.09. The stock has a fifty day moving average of $244.94 and a 200-day moving average of $228.61.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. Equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share 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.