Strategic Vision Investment Ltd Acquires New Stake in Snowflake Inc. (NYSE:SNOW)

Strategic Vision Investment Ltd acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,564 shares of the company’s stock, valued at approximately $3,893,000. Snowflake accounts for 3.6% of Strategic Vision Investment Ltd’s investment portfolio, making the stock its 4th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in Snowflake during the fourth quarter valued at $477,435,000. FMR LLC boosted its position in shares of Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after purchasing an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC bought a new position in shares of Snowflake during the 3rd quarter worth about $226,302,000. Renaissance Technologies LLC bought a new position in shares of Snowflake during the 1st quarter worth about $176,499,000. Finally, Vanguard Group Inc. boosted its position in shares of Snowflake by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after purchasing an additional 743,211 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 2,346 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the transaction, the executive now directly owns 102,007 shares of the company’s stock, valued at approximately $20,735,982.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Benoit Dageville sold 8,515 shares of Snowflake stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 2,346 shares of Snowflake stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total transaction of $476,894.88. Following the sale, the executive now directly owns 102,007 shares of the company’s stock, valued at $20,735,982.96. The disclosure for this sale can be found here. Insiders sold a total of 179,055 shares of company stock valued at $36,633,917 in the last three months. Company insiders own 8.30% of the company’s stock.

Snowflake Stock Down 1.1 %

SNOW traded down $1.68 on Wednesday, hitting $150.30. The company’s stock had a trading volume of 4,705,665 shares, compared to its average volume of 5,239,566. The company’s 50 day simple moving average is $182.44 and its 200-day simple moving average is $179.47. The firm has a market cap of $50.23 billion, a P/E ratio of -58.94 and a beta of 0.91. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Equities analysts predict that Snowflake Inc. will post -1.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of analyst reports. Mizuho restated a “buy” rating and issued a $205.00 target price (down previously from $255.00) on shares of Snowflake in a report on Thursday, February 29th. Raymond James upped their target price on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Evercore ISI lowered their target price on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. JMP Securities upped their target price on shares of Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a report on Thursday, February 29th. Finally, Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Snowflake 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.