Aberdeen Group plc Raises Stock Holdings in Snowflake Inc. $SNOW

Aberdeen Group plc boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 128.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,656 shares of the company’s stock after buying an additional 86,475 shares during the quarter. Aberdeen Group plc’s holdings in Snowflake were worth $34,611,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SNOW. Coastline Trust Co grew its stake in shares of Snowflake by 1.0% in the third quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock worth $943,000 after purchasing an additional 42 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in Snowflake by 1.3% in the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after buying an additional 48 shares during the period. Avion Wealth grew its position in shares of Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the last quarter. CX Institutional grew its position in shares of Snowflake by 13.2% in the 3rd quarter. CX Institutional now owns 421 shares of the company’s stock worth $95,000 after buying an additional 49 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Snowflake by 44.1% during the third quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock valued at $36,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the completion of the sale, the executive vice president owned 512,450 shares of the company’s stock, valued at $127,871,648.50. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $230.65, for a total transaction of $11,610,459.70. Following the completion of the transaction, the director owned 32,756 shares of the company’s stock, valued at approximately $7,555,171.40. The trade was a 60.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 613,681 shares of company stock valued at $130,573,518 over the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Up 5.5%

SNOW stock opened at $182.37 on Tuesday. The business has a 50 day moving average of $207.74 and a 200 day moving average of $224.91. The firm has a market cap of $62.41 billion, a PE ratio of -45.14 and a beta of 1.14. Snowflake Inc. has a twelve month low of $120.10 and a twelve month 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.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The company’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share. On average, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on SNOW shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Snowflake in a research note on Monday, February 2nd. Rosenblatt Securities raised their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Sanford C. Bernstein reiterated a “market perform” rating and set a $237.00 price target on shares of Snowflake in a research report on Thursday, December 4th. Zacks Research downgraded shares of Snowflake from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Finally, KeyCorp raised their price objective on shares of Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $274.68.

Snowflake 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.