Robeco Institutional Asset Management B.V. Increases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Robeco Institutional Asset Management B.V. grew its position in Snowflake Inc. (NYSE:SNOW) by 973.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 358,566 shares of the company’s stock after purchasing an additional 325,156 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Snowflake were worth $52,408,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its holdings in Snowflake by 413.5% in the first quarter. Sequoia Financial Advisors LLC now owns 17,546 shares of the company’s stock valued at $2,564,000 after buying an additional 14,129 shares in the last quarter. TigerOak Management L.L.C. acquired a new stake in Snowflake in the 1st quarter valued at about $263,000. Alpine Bank Wealth Management acquired a new stake in shares of Snowflake in the 1st quarter worth $43,000. Golden State Wealth Management LLC raised its position in shares of Snowflake by 748.0% during the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock valued at $31,000 after buying an additional 187 shares during the period. Finally, waypoint wealth counsel purchased a new stake in Snowflake in the 1st quarter valued at about $230,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BTIG Research reissued a “buy” rating on shares of Snowflake in a research note on Thursday, May 22nd. Bank of America increased their price target on shares of Snowflake from $172.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. UBS Group upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $210.00 to $265.00 in a report on Wednesday, June 4th. Oppenheimer reissued an “outperform” rating on shares of Snowflake in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $225.22.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the sale, the executive vice president now owns 590,632 shares in the company, valued at approximately $94,501,120. This represents a 1.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now directly owns 26,375 shares of the company’s stock, valued at $3,408,968.75. The trade was a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 622,903 shares of company stock worth $127,235,701. Corporate insiders own 6.80% of the company’s stock.

Snowflake Trading Up 0.2%

NYSE SNOW opened at $221.89 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $74.08 billion, a P/E ratio of -52.71 and a beta of 1.21. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $225.68. The firm has a 50-day moving average price of $189.12 and a 200 day moving average price of $173.05.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. Equities research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Snowflake Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.