Prudential PLC Has $4.54 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Prudential PLC grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,430 shares of the company’s stock after acquiring an additional 1,095 shares during the quarter. Prudential PLC’s holdings in Snowflake were worth $4,541,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Verus Capital Partners LLC raised its stake in shares of Snowflake by 1.7% during the 1st quarter. Verus Capital Partners LLC now owns 3,803 shares of the company’s stock worth $587,000 after purchasing an additional 64 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Snowflake by 14.7% during the first quarter. Global Retirement Partners LLC now owns 600 shares of the company’s stock worth $87,000 after purchasing an additional 77 shares during the period. Amalgamated Bank grew its holdings in Snowflake by 0.3% during the fourth quarter. Amalgamated Bank now owns 34,484 shares of the company’s stock worth $4,950,000 after purchasing an additional 89 shares during the period. Asset Management Advisors LLC grew its holdings in Snowflake by 0.3% during the first quarter. Asset Management Advisors LLC now owns 30,136 shares of the company’s stock worth $4,650,000 after purchasing an additional 90 shares during the period. Finally, Gulf International Bank UK Ltd grew its holdings in Snowflake by 0.3% during the fourth quarter. Gulf International Bank UK Ltd now owns 33,869 shares of the company’s stock worth $4,861,000 after purchasing an additional 100 shares during the period. Institutional investors own 63.74% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, CEO Frank Slootman sold 1,724 shares of Snowflake stock in a transaction on Friday, June 9th. The shares were sold at an average price of $174.31, for a total transaction of $300,510.44. Following the transaction, the chief executive officer now directly owns 185,683 shares of the company’s stock, valued at approximately $32,366,403.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Michael Scarpelli sold 200,000 shares of Snowflake stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $180.50, for a total transaction of $36,100,000.00. Following the sale, the chief financial officer now directly owns 142,546 shares in the company, valued at approximately $25,729,553. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank Slootman sold 1,724 shares of Snowflake stock in a transaction on Friday, June 9th. The stock was sold at an average price of $174.31, for a total value of $300,510.44. Following the sale, the chief executive officer now owns 185,683 shares in the company, valued at $32,366,403.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 643,125 shares of company stock worth $113,801,785. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNOW. Sanford C. Bernstein decreased their target price on Snowflake from $157.00 to $148.00 in a report on Friday, May 26th. Guggenheim reaffirmed a “sell” rating and set a $105.00 price target on shares of Snowflake in a research report on Monday, August 14th. 888 reissued a “maintains” rating on shares of Snowflake in a report on Wednesday, June 28th. William Blair started coverage on shares of Snowflake in a report on Wednesday, June 28th. They set an “outperform” rating on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $220.00 price target on shares of Snowflake in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $190.25.

Snowflake Stock Up 0.1 %

NYSE:SNOW opened at $157.08 on Friday. The company has a fifty day moving average of $166.41 and a 200-day moving average of $159.30. The firm has a market capitalization of $51.19 billion, a P/E ratio of -59.05 and a beta of 0.75. Snowflake Inc. has a twelve month low of $119.27 and a twelve month high of $203.62.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 23rd. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. The firm had revenue of $674.00 million during the quarter, compared to analyst estimates of $662.22 million. Snowflake had a negative return on equity of 14.01% and a negative net margin of 35.22%. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.67) EPS. On average, analysts anticipate that Snowflake Inc. will post -1.62 EPS for the current fiscal year.

Snowflake Company 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.