Makena Capital Management LLC Boosts Stake in Snowflake Inc. (NYSE:SNOW)

Makena Capital Management LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 274.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 609,321 shares of the company’s stock after buying an additional 446,687 shares during the quarter. Snowflake makes up 23.3% of Makena Capital Management LLC’s holdings, making the stock its biggest holding. Makena Capital Management LLC owned approximately 0.20% of Snowflake worth $206,407,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNOW. PrairieView Partners LLC grew its stake in shares of Snowflake by 66.7% in the fourth quarter. PrairieView Partners LLC now owns 100 shares of the company’s stock worth $34,000 after purchasing an additional 40 shares during the last quarter. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Snowflake in the fourth quarter worth $34,000. BerganKDV Wealth Management LLC grew its stake in shares of Snowflake by 123.4% in the fourth quarter. BerganKDV Wealth Management LLC now owns 105 shares of the company’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Earnest Partners LLC bought a new stake in shares of Snowflake in the fourth quarter worth $36,000. Finally, PSI Advisors LLC bought a new stake in shares of Snowflake in the third quarter worth $35,000. 76.67% of the stock is currently owned by hedge funds and other institutional investors.

In other Snowflake news, Director Michael L. Speiser sold 750,000 shares of the company’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $222.18, for a total value of $166,635,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.30% of the company’s stock.

Shares of NYSE:SNOW traded up $17.76 during midday trading on Friday, hitting $158.36. 8,540,412 shares of the company’s stock were exchanged, compared to its average volume of 6,059,721. The stock has a 50 day moving average price of $195.66 and a 200-day moving average price of $276.08. The company has a market cap of $49.82 billion, a PE ratio of -69.46 and a beta of 1.80. Snowflake Inc. has a 12 month low of $126.01 and a 12 month high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last posted its earnings results on Wednesday, March 2nd. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.06. Snowflake had a negative net margin of 55.76% and a negative return on equity of 13.45%. The company had revenue of $383.77 million during the quarter, compared to the consensus estimate of $371.89 million. During the same period in the previous year, the firm posted ($0.70) earnings per share. Analysts expect that Snowflake Inc. will post -1.6 EPS for the current fiscal year.

Several analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Snowflake from $367.00 to $313.00 and set an “overweight” rating on the stock in a research note on Thursday, March 3rd. Jefferies Financial Group dropped their target price on shares of Snowflake from $300.00 to $230.00 and set a “hold” rating on the stock in a report on Thursday, March 3rd. Credit Suisse Group dropped their target price on shares of Snowflake from $465.00 to $415.00 and set an “outperform” rating on the stock in a report on Thursday, March 3rd. Mizuho dropped their target price on shares of Snowflake from $410.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, March 3rd. Finally, Wolfe Research assumed coverage on shares of Snowflake in a report on Monday, April 25th. They issued an “outperform” rating and a $250.00 target price on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $303.89.

Snowflake Company Profile (Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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