Calamos Advisors LLC Has $23.74 Million Holdings in Snowflake Inc. $SNOW

Calamos Advisors LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 106,078 shares of the company’s stock after acquiring an additional 9,097 shares during the quarter. Calamos Advisors LLC’s holdings in Snowflake were worth $23,737,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey raised its holdings in Snowflake by 4.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 47,448 shares of the company’s stock valued at $10,617,000 after acquiring an additional 2,071 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Snowflake by 3.1% in the second quarter. Geode Capital Management LLC now owns 4,424,120 shares of the company’s stock worth $986,057,000 after purchasing an additional 133,059 shares during the period. PNC Financial Services Group Inc. raised its stake in Snowflake by 19.0% in the second quarter. PNC Financial Services Group Inc. now owns 21,303 shares of the company’s stock valued at $4,767,000 after purchasing an additional 3,395 shares in the last quarter. United Asset Strategies Inc. bought a new stake in Snowflake during the second quarter worth about $819,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Snowflake during the second quarter worth about $1,119,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 0.7%

NYSE:SNOW opened at $269.36 on Thursday. The firm’s 50 day simple moving average is $242.71 and its 200 day simple moving average is $217.47. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The company has a market cap of $91.26 billion, a PE ratio of -64.91 and a beta of 1.23.

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

Insider Buying and Selling

In other news, Director Frank Slootman sold 710,083 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $224.85, for a total value of $11,318,499.30. Following the completion of the transaction, the director directly owned 35,276 shares in the company, valued at approximately $7,931,808.60. This represents a 58.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 931,388 shares of company stock valued at $216,578,628 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on SNOW. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Barclays upped their target price on Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Truist Financial lifted their price target on Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. JMP Securities boosted their price target on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Finally, Macquarie raised their price objective on Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $259.89.

Snowflake Company 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.