Rathbones Group PLC Raises Stock Holdings in Snowflake Inc. $SNOW

Rathbones Group PLC boosted its position in Snowflake Inc. (NYSE:SNOW) by 15.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,303 shares of the company’s stock after acquiring an additional 311 shares during the period. Rathbones Group PLC’s holdings in Snowflake were worth $515,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new position in shares of Snowflake in the 2nd quarter worth about $25,000. Avion Wealth boosted its holdings in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Rossby Financial LCC increased its holdings in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 127 shares in the last quarter. Whittier Trust Co. boosted its stake in Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after purchasing an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its position in Snowflake by 417.2% during the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In related news, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the transaction, the executive vice president directly owned 522,450 shares in the company, valued at $145,100,038.50. This trade represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 931,388 shares of company stock worth $216,578,628 in the last three months. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Up 1.0%

SNOW opened at $271.16 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $241.91 and a 200 day moving average price of $217.11. The company has a market cap of $91.87 billion, a PE ratio of -65.34 and a beta of 1.23. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67.

Snowflake (NYSE:SNOW) last posted 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. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $0.18 earnings per share. Snowflake’s quarterly revenue was up 31.8% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Wedbush upped their price objective on Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Citigroup reaffirmed a “market outperform” rating on shares of Snowflake in a research note on Tuesday, October 28th. Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.95.

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.