Snowflake Inc. $SNOW Shares Bought by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC increased its holdings in Snowflake Inc. (NYSE:SNOW) by 53.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,913 shares of the company’s stock after buying an additional 4,153 shares during the period. Aristotle Atlantic Partners LLC’s holdings in Snowflake were worth $1,797,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after acquiring an additional 1,448,094 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Snowflake by 27.7% during the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after purchasing an additional 2,519,413 shares during the period. Nuveen LLC raised its stake in shares of Snowflake by 2.3% during the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock valued at $1,157,749,000 after purchasing an additional 116,521 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Snowflake by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock valued at $1,052,195,000 after purchasing an additional 249,668 shares in the last quarter. Finally, Norges Bank bought a new position in Snowflake in the 4th quarter valued at about $974,091,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Benchmark increased their price target on Snowflake from $200.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Scotiabank upped their price objective on Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a report on Monday, June 8th. Evercore set a $200.00 target price on Snowflake in a research note on Tuesday, April 14th. Jefferies Financial Group lifted their target price on Snowflake from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Rosenblatt Securities boosted their price target on shares of Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Thirty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $296.27.

Snowflake Price Performance

Shares of SNOW opened at $268.15 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $92.94 billion, a PE ratio of -76.18 and a beta of 1.35. The firm’s 50 day moving average price is $239.11 and its 200 day moving average price is $195.38. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $284.99.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. Snowflake’s quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. As a group, research analysts expect that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 437,076 shares of Snowflake stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the transaction, the director owned 38,046 shares of the company’s stock, valued at $9,603,951.78. This trade represents a 91.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the sale, the director owned 8,801 shares of the company’s stock, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,802,015 shares of company stock worth $421,739,629 over the last 90 days. Insiders own 4.80% of the company’s stock.

Snowflake 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.