Zevenbergen Capital Investments LLC Has $95.56 Million Stake in Snowflake Inc. $SNOW

Zevenbergen Capital Investments LLC lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 18.3% during the 4th quarter, Holdings Channel reports. The fund owned 435,633 shares of the company’s stock after acquiring an additional 67,426 shares during the quarter. Snowflake makes up approximately 2.1% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 13th biggest position. Zevenbergen Capital Investments LLC’s holdings in Snowflake were worth $95,560,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Total Clarity Wealth Management Inc. raised its position in Snowflake by 2.7% in the 3rd quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock valued at $340,000 after purchasing an additional 40 shares during the last quarter. Diligent Investors LLC increased its stake in shares of Snowflake by 0.9% in the third quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock valued at $1,036,000 after buying an additional 40 shares in the last quarter. Coastline Trust Co raised its holdings in shares of Snowflake by 1.0% in the third quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock valued at $943,000 after buying an additional 42 shares during the last quarter. CX Institutional raised its holdings in shares of Snowflake by 13.2% in the third quarter. CX Institutional now owns 421 shares of the company’s stock valued at $95,000 after buying an additional 49 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in Snowflake by 44.1% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock worth $36,000 after buying an additional 49 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Snowflake from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Rosenblatt Securities reiterated a “buy” rating and set a $275.00 target price on shares of Snowflake in a research report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Sanford C. Bernstein lowered their price target on shares of Snowflake from $237.00 to $195.00 and set a “market perform” rating for the company in a report on Thursday, February 26th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Snowflake in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $248.58.

Snowflake Trading Up 0.4%

Shares of NYSE SNOW opened at $153.35 on Tuesday. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The firm has a market capitalization of $53.01 billion, a P/E ratio of -38.82 and a beta of 1.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30. The company’s 50 day simple moving average is $178.27 and its 200 day simple moving average is $216.58.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. On average, analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $175.19, for a total transaction of $70,601.57. Following the transaction, the director owned 23,315 shares in the company, valued at approximately $4,084,554.85. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 2,621 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $170.01, for a total value of $445,596.21. Following the transaction, the executive vice president owned 533,494 shares of the company’s stock, valued at $90,699,314.94. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 612,238 shares of company stock valued at $116,741,495 in the last three months. 6.80% of the stock is currently owned by company insiders.

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.