Slow Capital Inc. Has $7.24 Million Holdings in Snowflake Inc. $SNOW

Slow Capital Inc. raised its holdings in Snowflake Inc. (NYSE:SNOW) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,358 shares of the company’s stock after buying an additional 627 shares during the period. Slow Capital Inc.’s holdings in Snowflake were worth $7,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after acquiring an additional 316,573 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Snowflake during the second quarter worth $3,900,134,000. Price T Rowe Associates Inc. MD boosted its position in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after purchasing an additional 763,673 shares during the period. Nuveen LLC acquired a new position in shares of Snowflake in the first quarter valued at $555,847,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock valued at $524,293,000 after purchasing an additional 650,775 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

NYSE:SNOW opened at $242.73 on Tuesday. The company has a market cap of $82.24 billion, a price-to-earnings ratio of -58.49 and a beta of 1.21. Snowflake Inc. has a fifty-two week low of $113.06 and a fifty-two week high of $249.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a fifty day moving average price of $216.42 and a 200-day moving average price of $196.76.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Snowflake’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the transaction, the executive vice president directly owned 527,336 shares in the company, valued at $123,132,956. The trade was a 1.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the sale, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,434 shares of company stock valued at $269,030,661 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research reports. Stifel Nicolaus raised their target price on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Evercore ISI raised their price objective on shares of Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Jefferies Financial Group boosted their price objective on Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. KeyCorp upped their target price on Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Bank of America upgraded Snowflake from a “neutral” rating to a “buy” rating and increased their target price for the stock from $220.00 to $240.00 in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $255.53.

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.