DSM Capital Partners LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

DSM Capital Partners LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 304 shares of the company’s stock, valued at approximately $60,000.

Several other institutional investors have also recently made changes to their positions in SNOW. Rakuten Securities Inc. purchased a new position in Snowflake in the fourth quarter valued at about $790,000. Sequoia Financial Advisors LLC grew its stake in Snowflake by 209.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after purchasing an additional 3,152 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Snowflake in the third quarter valued at about $458,000. Meridian Wealth Management LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $288,000. Finally, Glynn Capital Management LLC grew its stake in shares of Snowflake by 3.1% during the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after acquiring an additional 5,629 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, insider Benoit Dageville sold 8,515 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the transaction, the insider now owns 55,216 shares in the company, valued at approximately $8,627,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of Snowflake stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Benoit Dageville sold 8,515 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the transaction, the insider now directly owns 55,216 shares of the company’s stock, valued at $8,627,500. The disclosure for this sale can be found here. Insiders have sold 62,380 shares of company stock worth $9,803,625 in the last quarter. Corporate insiders own 8.30% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $1.58 during midday trading on Friday, reaching $156.16. 6,026,313 shares of the company’s stock traded hands, compared to its average volume of 4,735,169. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72. The company has a market cap of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90. The company has a fifty day simple moving average of $157.03 and a two-hundred day simple moving average of $180.31.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. As a group, research analysts forecast that Snowflake Inc. will post -1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research analyst reports. UBS Group boosted their price target on Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada dropped their price target on Snowflake from $246.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, May 20th. Sanford C. Bernstein boosted their price target on Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a research note on Thursday. HSBC restated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Finally, Morgan Stanley restated an “equal weight” rating and set a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.64.

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.