Panagora Asset Management Inc. Has $76.18 Million Stock Holdings in Snowflake Inc. $SNOW

Panagora Asset Management Inc. lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 51.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 347,291 shares of the company’s stock after buying an additional 117,991 shares during the quarter. Panagora Asset Management Inc.’s holdings in Snowflake were worth $76,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SNOW. Greenline Wealth Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at approximately $29,000. GoalVest Advisory LLC grew its position in shares of Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after purchasing an additional 93 shares during the period. Physician Wealth Advisors Inc. grew its position in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after purchasing an additional 51 shares during the period. HHM Wealth Advisors LLC lifted its stake in Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after acquiring an additional 50 shares in the last quarter. Finally, Ameriflex Group Inc. boosted its position 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 acquiring an additional 116 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark Garrett sold 100,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the sale, the director owned 8,801 shares in the company, valued at approximately $2,200,250. This represents a 91.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 2,729 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $239.00, for a total value of $652,231.00. Following the completion of the sale, the executive vice president owned 413,002 shares in the company, valued at approximately $98,707,478. This trade represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 1,589,550 shares of company stock worth $359,438,410. 4.80% of the stock is currently owned by company insiders.

Snowflake Trading Down 0.2%

Shares of Snowflake stock opened at $232.38 on Monday. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The stock has a market cap of $80.54 billion, a P/E ratio of -66.02 and a beta of 1.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $173.64 and its 200-day moving average is $189.84.

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

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent research reports. Zacks Research raised Snowflake from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Oppenheimer upped their price target on Snowflake from $250.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Wednesday, February 18th. Royal Bank Of Canada upped their price target on Snowflake from $220.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Evercore set a $200.00 price target on Snowflake in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $291.77.

Snowflake 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.