River Global Investors LLP Purchases 1,819 Shares of Snowflake Inc. (NYSE:SNOW)

River Global Investors LLP boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 130.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,209 shares of the company’s stock after purchasing an additional 1,819 shares during the period. River Global Investors LLP’s holdings in Snowflake were worth $638,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Snowflake by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after buying an additional 743,211 shares in the last quarter. FMR LLC grew its stake in Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after purchasing an additional 1,496,235 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Snowflake by 5.4% in the third quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock valued at $287,556,000 after acquiring an additional 95,814 shares in the last quarter. Wellington Management Group LLP increased its holdings in Snowflake by 69.9% during the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after buying an additional 623,277 shares during the period. Finally, Winslow Capital Management LLC bought a new position in shares of Snowflake in the 3rd quarter worth $226,302,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total value of $2,001,149.92. Following the completion of the sale, the executive now directly owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now directly owns 354,954 shares in the company, valued at $55,571,598.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock valued at $31,585,640 over the last ninety days. 8.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SNOW shares. Royal Bank of Canada cut their price target on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Mizuho reaffirmed a “buy” rating and set a $205.00 target price (down previously from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Piper Sandler restated an “overweight” rating and set a $250.00 price target on shares of Snowflake in a report on Tuesday, February 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Snowflake in a research note on Thursday, February 29th. Finally, Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $202.77.

Snowflake Price Performance

SNOW stock traded up $2.79 during mid-day trading on Monday, hitting $162.11. 1,798,906 shares of the stock were exchanged, compared to its average volume of 6,317,448. The stock has a market capitalization of $54.18 billion, a price-to-earnings ratio of -62.80 and a beta of 0.90. The business has a fifty day moving average price of $163.20 and a 200 day moving average price of $179.12. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, equities analysts forecast that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

About Snowflake

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.