American Century Companies Inc. Has $95.56 Million Position in Snowflake Inc. (NYSE:SNOW)

American Century Companies Inc. lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 707,397 shares of the company’s stock after acquiring an additional 38,966 shares during the period. American Century Companies Inc. owned approximately 0.21% of Snowflake worth $95,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Snowflake during the 4th quarter valued at approximately $838,455,000. Swedbank AB purchased a new stake in shares of Snowflake during the first quarter worth $258,957,000. Vanguard Group Inc. grew its position in shares of Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after purchasing an additional 1,559,830 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Snowflake during the 1st quarter valued at $171,608,000. Finally, Cibc World Markets Corp purchased a new stake in Snowflake during the 4th quarter worth about $147,120,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and upped their price target for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. KeyCorp upped their target price on Snowflake from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, Sanford C. Bernstein lifted their price target on Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the 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 transaction, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 512,262 shares of company stock valued at $63,340,261. Corporate insiders own 7.80% of the company’s stock.

Snowflake Trading Up 0.6 %

NYSE:SNOW opened at $113.68 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a 50-day moving average price of $123.48 and a 200-day moving average price of $142.73. The stock has a market cap of $38.06 billion, a price-to-earnings ratio of -40.60 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.52) EPS. Equities analysts forecast that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

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.