Bamco Inc. NY Sells 47,046 Shares of Snowflake Inc. $SNOW

Bamco Inc. NY trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 11.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 368,163 shares of the company’s stock after selling 47,046 shares during the period. Bamco Inc. NY owned approximately 0.11% of Snowflake worth $82,384,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Snowflake by 2.2% in the second quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock worth $6,218,515,000 after buying an additional 595,553 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snowflake in the second quarter valued at $3,900,134,000. Jennison Associates LLC lifted its holdings in shares of Snowflake by 20.5% in the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares during the last quarter. State Street Corp lifted its holdings in shares of Snowflake by 1.4% in the 2nd quarter. State Street Corp now owns 6,887,073 shares of the company’s stock worth $1,541,120,000 after acquiring an additional 94,293 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Snowflake by 15.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock worth $1,108,045,000 after purchasing an additional 652,485 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on SNOW shares. Oppenheimer reissued an “outperform” rating on shares of Snowflake in a research report on Friday, November 21st. The Goldman Sachs Group upped their target price on Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Raymond James Financial increased their price target on Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Citigroup decreased their price target on Snowflake from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 8th. Finally, Wells Fargo & Company upped their price objective on Snowflake from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $274.78.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,993 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $223.31, for a total value of $445,056.83. Following the completion of the sale, the director directly owned 150,456 shares of the company’s stock, valued at $33,598,329.36. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $230.65, for a total transaction of $92,951.95. Following the transaction, the director directly owned 24,524 shares in the company, valued at $5,656,460.60. This trade represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 221,360 shares of company stock worth $53,391,315 over the last three months. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Down 1.2%

Shares of NYSE:SNOW opened at $217.95 on Friday. The business’s 50 day moving average is $250.24 and its 200 day moving average is $227.20. The stock has a market cap of $73.84 billion, a P/E ratio of -53.95 and a beta of 1.09. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The company has a quick ratio of 1.48, a current ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company posted $0.20 EPS. Snowflake’s revenue was up 28.7% on a year-over-year basis. Sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

About Snowflake

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.