AGP Franklin LLC Purchases New Shares in Snowflake Inc. $SNOW

AGP Franklin LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,450 shares of the company’s stock, valued at approximately $778,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Snowflake by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock worth $165,123,000 after purchasing an additional 8,002 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Snowflake during the second quarter worth $6,845,000. Rheos Capital Works Inc. lifted its holdings in Snowflake by 102.9% in the third quarter. Rheos Capital Works Inc. now owns 207,000 shares of the company’s stock valued at $46,689,000 after buying an additional 105,000 shares during the period. Goldstream Capital Management Ltd bought a new stake in Snowflake during the second quarter valued at $3,801,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in Snowflake by 81.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 20,141 shares of the company’s stock worth $4,507,000 after acquiring an additional 9,052 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Jefferies Financial Group set a $300.00 price objective on Snowflake in a research note on Monday, November 24th. Evercore ISI boosted their price target on Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Oppenheimer reaffirmed an “outperform” rating on shares of Snowflake in a research report on Friday, November 21st. Citigroup cut their target price on shares of Snowflake from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Snowflake in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $275.58.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $221.16, for a total value of $89,127.48. Following the completion of the sale, the director owned 24,121 shares in the company, valued at approximately $5,334,600.36. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $219.90, for a total transaction of $2,199,000.00. Following the transaction, the executive vice president directly owned 471,351 shares in the company, valued at approximately $103,650,084.90. This represents a 2.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 618,681 shares of company stock valued at $137,427,145 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

Shares of Snowflake stock opened at $212.83 on Wednesday. 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 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average price of $225.82 and a 200-day moving average price of $228.33. The company has a market cap of $72.83 billion, a PE ratio of -52.68 and a beta of 1.14.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. Snowflake’s revenue was up 28.7% compared to the same quarter last year. Equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Snowflake Company Profile

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.