Los Angeles Capital Management LLC Has $30.39 Million Stock Holdings in Snowflake Inc. $SNOW

Los Angeles Capital Management LLC boosted its stake in Snowflake Inc. (NYSE:SNOW) by 98.7% during the second quarter, Holdings Channel reports. The institutional investor owned 135,795 shares of the company’s stock after buying an additional 67,437 shares during the period. Los Angeles Capital Management LLC’s holdings in Snowflake were worth $30,387,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SNOW. Vanguard Group Inc. boosted its holdings in shares of Snowflake by 1.2% during the first 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 period. Kingstone Capital Partners Texas LLC bought a new position in shares of Snowflake during the second quarter worth approximately $3,900,134,000. Jennison Associates LLC lifted its holdings in Snowflake by 20.5% during the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after purchasing an additional 1,363,389 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after purchasing an additional 763,673 shares during the period. Finally, Nuveen LLC bought a new stake in Snowflake in the 1st quarter valued at $555,847,000. 65.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 2,976 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $236.01, for a total transaction of $702,365.76. Following the completion of the transaction, the director owned 34,436 shares of the company’s stock, valued at approximately $8,127,240.36. The trade was a 7.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 approximately $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 880,647 shares of company stock valued at $203,522,973 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Snowflake Trading Down 0.8%

Shares of Snowflake stock opened at $262.72 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12-month low of $119.66 and a 12-month high of $280.67. The company has a market capitalization of $89.01 billion, a price-to-earnings ratio of -63.31 and a beta of 1.23. The firm’s 50-day moving average price is $240.55 and its two-hundred day moving average price is $215.06.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Robert W. Baird lifted their target price on Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Snowflake in a research report on Friday, October 17th. Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. UBS Group boosted their price objective on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Bank of America upgraded shares of 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 report on Wednesday, August 20th. Two 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 stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $258.95.

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.