8,544 Snowflake Inc. $SNOW Shares Bought by Lido Advisors LLC

Lido Advisors LLC raised its stake in Snowflake Inc. (NYSE:SNOW) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 122,756 shares of the company’s stock after buying an additional 8,544 shares during the quarter. Lido Advisors LLC’s holdings in Snowflake were worth $41,363,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners lifted its position in Snowflake by 15.2% during the second quarter. Silicon Valley Capital Partners now owns 62,087 shares of the company’s stock valued at $15,801,000 after acquiring an additional 8,208 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Snowflake in the second quarter valued at approximately $1,399,000. Swiss National Bank boosted its stake in Snowflake by 7.1% in the first quarter. Swiss National Bank now owns 944,600 shares of the company’s stock valued at $142,465,000 after acquiring an additional 62,600 shares in the last quarter. National Pension Service grew its holdings in Snowflake by 3.3% in the second quarter. National Pension Service now owns 690,349 shares of the company’s stock worth $175,694,000 after purchasing an additional 21,915 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its holdings in Snowflake by 439.9% in the second quarter. Ameritas Advisory Services LLC now owns 7,181 shares of the company’s stock worth $1,828,000 after purchasing an additional 5,851 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake News Summary

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Supply-chain software provider project44 is using Snowflake to turn supply-chain data into AI-powered decisions, offering a customer example of the platform’s AI use cases. Article: project44 Turns Supply Chain Data Into AI-Powered Decisions with Snowflake
• Positive Sentiment: A fund with about $4.7 billion under management reported a new Snowflake stake in its latest 13F filing. The disclosure may signal institutional interest, though the position was reported as of June 30. Article: A $4.7 Billion Fund Bought These 3 Stocks
• Neutral Sentiment: Snowflake shares advanced even as the market declined, but the market recap offered no specific explanation for the outperformance. Article: Why the Market Dipped But Snowflake Gained
• Negative Sentiment: Director Michael Speiser reported selling Snowflake shares on Nov. 6, including a large sale. The transactions were made under a pre-arranged Rule 10b5-1 plan, which can make the sales less indicative of a fresh view on the company.
• Negative Sentiment: Snowflake remains more than 20% below its September high, and investors will look to its Dec. 2 earnings report for evidence that AI-related growth is holding up. Commentary also flags its lack of consistent profitability and high valuation as risks. Article: Snowflake Is 20% Off Its September High

Insider Activity at Snowflake

In other Snowflake news, Director Mark Garrett sold 50,000 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $350.00, for a total value of $17,500,000.00. Following the completion of the transaction, the director owned 10,074 shares of the company’s stock, valued at approximately $3,525,900. This trade represents a 83.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 300,000 shares of Snowflake stock in a transaction on Monday, October 19th. The stock was sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the sale, the director owned 19,024 shares of the company’s stock, valued at $6,019,764.32. The trade was a 94.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,186,443 shares of company stock worth $387,734,752. Corporate insiders own 4.80% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $295.95 on Wednesday. The company has a 50 day moving average price of $326.53 and a 200 day moving average price of $242.50. The firm has a market capitalization of $104.41 billion, a P/E ratio of -93.07 and a beta of 1.32. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $384.56.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.17. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. Snowflake’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. Sell-side analysts expect that Snowflake Inc. will post -1.42 EPS for the current year.

Analysts Set New Price Targets

SNOW has been the topic of a number of recent analyst reports. Oppenheimer upped their price target on Snowflake from $400.00 to $475.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Jefferies Financial Group set a $430.00 price objective on Snowflake and gave the company a “buy” rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. raised their price objective on Snowflake from $285.00 to $426.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Truist Financial set a $425.00 target price on Snowflake and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Finally, Evercore restated an “outperform” rating and set a $430.00 target price on shares of Snowflake in a research note on Thursday, September 3rd. Thirty-six equities research analysts have rated the stock with 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, Snowflake has an average rating of “Moderate Buy” and an average price target of $413.87.

About Snowflake

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.