Varma Mutual Pension Insurance Co Has $13.43 Million Holdings in Snowflake Inc. $SNOW

Varma Mutual Pension Insurance Co lifted its position in Snowflake Inc. (NYSE:SNOW) by 8.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,546 shares of the company’s stock after purchasing an additional 4,800 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Snowflake were worth $13,431,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Snowflake by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock valued at $6,218,515,000 after buying an additional 595,553 shares during the period. Jennison Associates LLC raised its position in Snowflake by 13.5% in the third quarter. Jennison Associates LLC now owns 9,083,889 shares of the company’s stock worth $2,048,871,000 after purchasing an additional 1,083,222 shares in the last quarter. State Street Corp lifted its stake in Snowflake by 1.4% during the second quarter. State Street Corp now owns 6,887,073 shares of the company’s stock worth $1,541,120,000 after purchasing an additional 94,293 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Snowflake by 15.2% during the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock valued at $1,108,045,000 after purchasing an additional 652,485 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Snowflake by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,424,120 shares of the company’s stock valued at $986,057,000 after purchasing an additional 133,059 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other news, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the transaction, the senior vice president owned 218,020 shares of the company’s stock, valued at $48,060,328.80. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $230.65, for a total value of $11,610,459.70. Following the sale, the director directly owned 32,756 shares of the company’s stock, valued at $7,555,171.40. This represents a 60.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 613,681 shares of company stock valued at $130,573,518 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SNOW. Barclays restated an “equal weight” rating and set a $250.00 target price (down previously from $290.00) on shares of Snowflake in a research report on Monday, January 12th. Evercore boosted their target price on shares of Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Royal Bank Of Canada set a $245.00 target price on shares of Snowflake in a report on Wednesday. Citigroup cut their price target on shares of Snowflake from $310.00 to $300.00 and set a “buy” rating for the company in a report on Monday, December 8th. Finally, Rosenblatt Securities upped their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $274.68.

Snowflake Trading Down 3.4%

SNOW opened at $172.67 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $59.09 billion, a PE ratio of -42.74 and a beta of 1.14. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The firm has a 50-day moving average price of $209.54 and a two-hundred day moving average price of $225.37.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business earned $0.20 earnings per share. Snowflake’s quarterly revenue was up 28.7% on a year-over-year basis. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal 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.