Brown Advisory Inc. Has $300.67 Million Holdings in Snowflake Inc. $SNOW

Brown Advisory Inc. lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,370,622 shares of the company’s stock after selling 129,461 shares during the quarter. Brown Advisory Inc.’s holdings in Snowflake were worth $300,665,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SNOW. Greenline Wealth Management LLC acquired a new stake in Snowflake during the 4th quarter worth $29,000. GoalVest Advisory LLC raised its stake in Snowflake by 221.4% during the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after buying an additional 93 shares during the period. Physician Wealth Advisors Inc. increased its holdings in Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings 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 purchasing an additional 50 shares in the last quarter. Finally, Ameriflex Group Inc. increased its holdings in Snowflake by 252.2% during the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock worth $37,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNOW. Zacks Research upgraded Snowflake from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Canaccord Genuity Group increased their target price on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Evercore set a $200.00 target price on Snowflake in a report on Tuesday, April 14th. Wedbush increased their target price on Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Finally, Bank of America increased their target price on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $291.77.

Snowflake Price Performance

Shares of NYSE SNOW opened at $232.38 on Friday. The stock has a market capitalization of $80.54 billion, a price-to-earnings ratio of -66.02 and a beta of 1.35. The business has a 50-day moving average of $173.64 and a 200-day moving average of $190.21. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week 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. As a group, sell-side analysts predict that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $148.21, for a total value of $7,460,594.98. Following the completion of the transaction, the director owned 29,396 shares in the company, valued at $4,356,781.16. This trade represents a 63.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the transaction, the director owned 8,801 shares of the company’s stock, valued at $2,200,250. The trade was a 91.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,589,550 shares of company stock worth $359,438,410 in the last quarter. Corporate 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.