Nuveen LLC Has $1.16 Billion Stock Position in Snowflake Inc. $SNOW

Nuveen LLC grew its stake in Snowflake Inc. (NYSE:SNOW) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,277,851 shares of the company’s stock after purchasing an additional 116,521 shares during the quarter. Nuveen LLC’s holdings in Snowflake were worth $1,157,749,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Total Clarity Wealth Management Inc. raised its stake in Snowflake by 2.7% during the 3rd quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock worth $340,000 after buying an additional 40 shares during the period. Diligent Investors LLC raised its stake in Snowflake by 0.9% during the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock worth $1,036,000 after buying an additional 40 shares during the period. Wolff Wiese Magana LLC raised its stake in Snowflake by 10.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock worth $120,000 after buying an additional 50 shares during the period. HHM Wealth Advisors LLC raised its stake in Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after buying an additional 50 shares during the period. Finally, United Asset Strategies Inc. raised its stake in Snowflake by 1.4% during the 4th quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock worth $777,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $240.31 on Friday. The stock has a 50-day moving average price of $172.06 and a two-hundred day moving average price of $189.92. The stock has a market cap of $83.29 billion, a PE ratio of -68.27 and a beta of 1.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. Equities analysts forecast that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on SNOW shares. Canaccord Genuity Group raised their price objective on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a report on Wednesday, February 18th. BTIG Research increased their target price on Snowflake from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Citizens Jmp reiterated a “market outperform” rating and set a $325.00 target price on shares of Snowflake in a report on Tuesday, May 19th. Finally, Truist Financial increased their target price on Snowflake from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $291.77.

Insider Buying and Selling

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the sale, the director directly owned 8,801 shares in the company, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 437,076 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the sale, the director owned 38,046 shares of the company’s stock, valued at $9,603,951.78. This trade represents a 91.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,589,550 shares of company stock worth $359,438,410. Company insiders own 4.80% of the company’s stock.

Snowflake Company Profile

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.