Sienna Gestion Invests $1.33 Million in Snowflake Inc. $SNOW

Sienna Gestion acquired a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,000 shares of the company’s stock, valued at approximately $1,326,000.

Other hedge funds have also recently made changes to their positions in the company. Greenline Wealth Management LLC bought a new position in shares of Snowflake in the fourth quarter worth about $29,000. GoalVest Advisory LLC boosted its stake in Snowflake by 221.4% during the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after buying an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. boosted its stake in Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after buying an additional 51 shares during the last quarter. HHM Wealth Advisors LLC boosted its stake in Snowflake by 50.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after buying an additional 50 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its stake in Snowflake by 252.2% during the third quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock valued at $37,000 after buying an additional 116 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 3.4%

Shares of SNOW stock opened at $240.61 on Tuesday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $175.41 and its two-hundred day simple moving average is $189.78. The company has a market cap of $83.40 billion, a PE ratio of -68.35 and a beta of 1.35.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. Research analysts predict that Snowflake Inc. will post -1.87 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 2,729 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $239.00, for a total transaction of $652,231.00. Following the sale, the executive vice president directly owned 413,002 shares in the company, valued at $98,707,478. This represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $245.21, for a total value of $98,819.63. Following the sale, the director owned 22,106 shares in the company, valued at approximately $5,420,612.26. This trade represents a 1.79% 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. In the last three months, insiders have sold 1,578,690 shares of company stock valued at $357,534,217. 4.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America increased their price target on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. HSBC set a $289.00 price target on Snowflake and gave the company a “buy” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their price target on Snowflake from $245.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Citizens Jmp restated a “market outperform” rating and issued a $325.00 target price on shares of Snowflake in a report on Tuesday, May 19th. Finally, DA Davidson boosted their target price on shares of Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target 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.