New England Research & Management Inc. Acquires Shares of 4,025 Snowflake Inc. (NYSE:SNOW)

New England Research & Management Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 4,025 shares of the company’s stock, valued at approximately $650,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after acquiring an additional 1,559,830 shares in the last quarter. Sands Capital Management LLC boosted its position in shares of Snowflake by 12.6% in the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after purchasing an additional 610,970 shares in the last quarter. Norges Bank bought a new stake in shares of Snowflake in the 4th quarter worth approximately $838,455,000. 1832 Asset Management L.P. boosted its position in shares of Snowflake by 51.8% in the 4th quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock worth $334,459,000 after purchasing an additional 573,400 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Snowflake by 69.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after purchasing an additional 623,277 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Up 0.9 %

Shares of NYSE SNOW opened at $135.09 on Friday. Snowflake Inc. has a 12-month low of $122.60 and a 12-month high of $237.72. The stock has a market cap of $45.23 billion, a PE ratio of -48.26 and a beta of 0.85. The company has a 50-day moving average of $145.74 and a 200 day moving average of $173.37.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The business had revenue of $828.71 million for the quarter, compared to analysts’ expectations of $786.95 million. On average, sell-side analysts forecast that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNOW. UBS Group boosted their price objective on shares of Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, May 23rd. Barclays increased their price target on Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a report on Thursday, May 23rd. Wedbush reissued a “neutral” rating and set a $210.00 price target on shares of Snowflake in a report on Wednesday, June 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 target price on shares of Snowflake in a report on Wednesday, June 5th. Finally, BNP Paribas upgraded Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.03.

Insiders Place Their Bets

In other Snowflake news, CAO Emily Ho sold 3,845 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the sale, the chief accounting officer now directly owns 30,613 shares in the company, valued at approximately $3,991,629.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the sale, the executive vice president now directly owns 494,942 shares in the company, valued at approximately $60,922,410.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the completion of the sale, the chief accounting officer now owns 30,613 shares in the company, valued at $3,991,629.07. The disclosure for this sale can be found here. Insiders have sold a total of 519,112 shares of company stock worth $64,932,073 in the last ninety days. 7.80% of the stock is owned by corporate insiders.

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.