Militia Capital Partners LP Invests $724,000 in Snowflake Inc. $SNOW

Militia Capital Partners LP purchased a new position in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,300 shares of the company’s stock, valued at approximately $724,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 1,448,094 shares during the period. Jennison Associates LLC raised its holdings in shares of Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after buying an additional 2,519,413 shares during the period. Nuveen LLC raised its holdings in shares of Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after buying an additional 116,521 shares during the period. Geode Capital Management LLC raised its holdings in shares of Snowflake by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after buying an additional 249,668 shares during the period. Finally, Norges Bank purchased a new stake in shares of Snowflake in the fourth quarter worth approximately $974,091,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Down 0.7%

SNOW opened at $239.11 on Wednesday. The stock’s fifty day moving average is $177.16 and its two-hundred day moving average is $189.71. The company has a market capitalization of $82.87 billion, a P/E ratio of -67.93 and a beta of 1.35. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last released its quarterly earnings data 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 the consensus estimate of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. Analysts forecast that Snowflake Inc. will post -1.87 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on Snowflake from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft increased their price target on Snowflake from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Oppenheimer increased their price target on Snowflake from $250.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Royal Bank Of Canada increased their price target on Snowflake from $220.00 to $284.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Finally, The Goldman Sachs Group raised their price objective on Snowflake from $216.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.77.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $245.21, for a total transaction of $98,819.63. Following the sale, the director owned 22,106 shares of the company’s stock, valued at approximately $5,420,612.26. This trade represents a 1.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 162,924 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $263.70, for a total value of $42,963,058.80. Following the sale, the director directly owned 38,046 shares in the company, valued at $10,032,730.20. This trade represents a 81.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,489,989 shares of company stock worth $341,929,050 over the last quarter. Insiders own 4.80% of the company’s stock.

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.