D.A. Davidson & CO. Raises Position in Snowflake Inc. $SNOW

D.A. Davidson & CO. increased its holdings in Snowflake Inc. (NYSE:SNOW) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,704 shares of the company’s stock after purchasing an additional 2,788 shares during the period. D.A. Davidson & CO.’s holdings in Snowflake were worth $15,722,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Snowflake by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock worth $6,218,515,000 after buying an additional 595,553 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake in the second quarter worth approximately $3,900,134,000. 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 valued at $1,790,309,000 after purchasing an additional 1,363,389 shares during the period. State Street Corp grew its holdings in Snowflake by 1.4% in the second quarter. State Street Corp now owns 6,887,073 shares of the company’s stock valued at $1,541,120,000 after purchasing an additional 94,293 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in Snowflake by 15.2% during the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock worth $1,108,045,000 after purchasing an additional 652,485 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $221.16, for a total value of $89,127.48. Following the completion of the transaction, the director owned 24,121 shares of the company’s stock, valued at approximately $5,334,600.36. This represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total value of $2,601,412.44. Following the sale, the senior vice president owned 218,020 shares of the company’s stock, valued at approximately $48,060,328.80. This trade represents a 5.13% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 413,681 shares of company stock valued at $95,124,145. Company insiders own 6.80% of the company’s stock.

Snowflake Trading Up 3.7%

SNOW opened at $224.67 on Tuesday. The firm has a market capitalization of $76.88 billion, a P/E ratio of -55.61 and a beta of 1.14. The firm’s 50 day moving average is $242.16 and its 200-day moving average is $228.87. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business earned $0.20 EPS. The business’s revenue was up 28.7% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on SNOW shares. KeyCorp boosted their price objective on shares of Snowflake from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Evercore ISI boosted their price target on Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft upped their price target on Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Snowflake in a research note on Thursday, December 4th. Finally, Wells Fargo & Company increased their target price on shares of Snowflake from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $275.32.

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.