Varma Mutual Pension Insurance Co Has $12.26 Million Stake in Snowflake Inc. $SNOW

Varma Mutual Pension Insurance Co lowered its position in Snowflake Inc. (NYSE:SNOW – Free Report) by 6.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 55,876 shares of the company’s stock after selling 3,670 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Snowflake were worth $12,257,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Brighton Jones LLC lifted its position in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the period. Intech Investment Management LLC lifted its position in shares of Snowflake by 24.0% in the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after purchasing an additional 2,167 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after purchasing an additional 73 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of Snowflake in the 2nd quarter valued at $221,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Snowflake by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after acquiring an additional 1,521 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 2.3%

Snowflake stock opened at $144.29 on Tuesday. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $280.67. The firm has a market capitalization of $49.88 billion, a price-to-earnings ratio of -36.53 and a beta of 1.08. The firm’s fifty day moving average price is $158.11 and its two-hundred day moving average price is $202.46. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW – Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The business’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. On average, equities research analysts predict that Snowflake Inc. will post -2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on SNOW shares. BTIG Research lowered their price objective on shares of Snowflake from $312.00 to $235.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Snowflake in a research note on Monday, February 23rd. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Wednesday, February 18th. JPMorgan Chase & Co. lowered their price objective on shares of Snowflake from $268.00 to $245.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Finally, Citigroup lowered their price objective on shares of Snowflake from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $242.19.

Get Our Latest Analysis on SNOW

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 11,299 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $175.25, for a total transaction of $1,980,149.75. Following the completion of the sale, the director directly owned 38,046 shares of the company’s stock, valued at $6,667,561.50. The trade was a 22.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Vivek Raghunathan sold 3,876 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $152.80, for a total transaction of $592,252.80. Following the sale, the senior vice president directly owned 273,323 shares of the company’s stock, valued at approximately $41,763,754.40. The trade was a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 435,054 shares of company stock valued at $72,691,801 over the last quarter. 6.80% of the stock is currently owned by company insiders.

About Snowflake

(Free Report)

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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