Snowflake Inc. $SNOW Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 182.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,507 shares of the company’s stock after purchasing an additional 12,594 shares during the quarter. Pacer Advisors Inc.’s holdings in Snowflake were worth $4,400,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SNOW. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Snowflake in the second quarter valued at about $6,845,000. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the second quarter valued at about $3,900,134,000. Newbridge Financial Services Group Inc. lifted its position 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 purchasing an additional 9,052 shares during the period. Goldstream Capital Management Ltd purchased a new stake in Snowflake in the 2nd quarter valued at approximately $3,801,000. Finally, Vanguard Group Inc. increased its position in 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 period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Frank Slootman sold 200,000 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $221.83, for a total transaction of $44,366,000.00. Following the transaction, the director directly owned 50,329 shares in the company, valued at $11,164,482.07. This represents a 79.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the completion of the sale, the executive vice president owned 512,450 shares of the company’s stock, valued at approximately $127,871,648.50. The trade was a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 411,880 shares of company stock worth $95,529,832. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on SNOW shares. JMP Securities raised their price target on Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a report on Tuesday, October 28th. Macquarie increased their price objective on Snowflake from $235.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Cowen restated a “buy” rating on shares of Snowflake in a research report on Thursday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Snowflake in a research note on Thursday, December 4th. Finally, Cantor Fitzgerald raised their price objective on shares of Snowflake from $275.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $275.32.

Snowflake Stock Performance

Shares of SNOW opened at $222.80 on Tuesday. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The company’s 50 day simple moving average is $245.45 and its 200 day simple moving average is $228.51. The company has a market capitalization of $76.24 billion, a price-to-earnings ratio of -55.15 and a beta of 1.09. 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 (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm posted $0.20 EPS. Snowflake’s revenue was up 28.7% on a year-over-year basis. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

About Snowflake

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.