The Vanguard Group, Inc. has recently announced that it has increased stake in Snowflake Inc (NYSE:SNOW) by 4.01%. After grabbing 18.76 million shares, the institutional investor is now in possession of 0.72 million shares of the Technology Company. The new investment brought the stake of investor firm to 5.69% having worth around $3.52 billion. Moreover, Altimeter Capital Management LP increased its share by 30675.0 to have a control over 15.4 million shares. And BlackRock Fund Advisors raised its holdings to 0.57 million shares by acquiring 10.49 million shares or 3.18% of the stake.
Snowflake Inc (SNOW) concluded trading on 01/03/24 at a closing price of $184.21, with 4.25 million shares of worth about $781.98 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.76% during that period and on Wednesday the price saw a loss of about -2.60%. Currently the company’s common shares owned by public are about 323.31M shares, out of which, 301.15M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 228 times over the past 12 months. They bought 1,451,493 shares in 55 of the transactions. In 173 selling transactions, insiders dumped 1,764,359 shares.
Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Government Pension Fund – Global are the top 3 mutual funds which are holding stakes in Snowflake Inc Vanguard Total Stock Market ETF is currently holding 8.69 million shares of worth totaling $1.63 billion. The company recently came buying 19482.0 shares which brought its stake up to 2.64% of the company’s outstanding shares. Vanguard Extended Market Index Fu bought 73791.0 shares, after which its hold over company’s outstanding shares expand to 1.36%, leaving 4.49 million shares with the mutual fund that have a worth of about $842.1 million. Government Pension Fund – Global, after buying 3.43 million shares, have now control over 1.04% of the stake in the company. It holds 1.44 million shares of worth $643.31 million.
Snowflake Inc (NYSE: SNOW) started trading at $185.00, below -$4.12 from concluding price of the previous day. However, the stock later moved at a day high price of 187.35, or with a loss of -2.60%. Stock saw a price change of -7.23% in past 5 days and over the past one month there was a price change of -0.95%. Year-to-date (YTD), SNOW shares are showing a performance of -7.43% which increased to 28.33% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $119.27 but also hit the highest price of $202.83 during that period. The average intraday trading volume for Snowflake Inc shares is 4.62 million. The stock is currently trading -5.32% below its 20-day simple moving average (SMA20), while that difference is up 6.54% for SMA50 and it goes to 12.65% higher than SMA200.
The Vanguard Group, Inc. acquired 18.76 million shares of Snowflake Inc having value of about $3.52 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.72 million shares in the company valued at close to $133355145.3, or have control over 4.01% stake in the company. Snowflake Inc (NYSE: SNOW) currently have 323.31M outstanding shares and institutions hold larger chunk of about 59.47% of that. Holding of mutual funds in the company is about 31.42% while other institutional holders and individual stake holders have control over 35.24% and 28.50% of the stake respectively.
The stock has a current market capitalization of $60.66B and its 3Y-monthly beta is at 0.97. It has posted earnings per share of -$2.68 in the same period. It has Quick Ratio of 2.08 while making debt-to-equity ratio of 0.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SNOW, volatility over the week remained 2.57% while standing at 2.72% over the month.
Analysts are in expectations that Snowflake Inc (SNOW) stock would likely to be making an EPS of $0.17 in the current quarter, while forecast for next quarter EPS is $0.21 and it is $1.13 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.04 which is $0.27 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 217.94% while it is estimated to increase by 1.64% in next year.
Analysts at 44 brokerage firms have issued recommendations for the Snowflake Inc (SNOW)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.84. Out of those 44 Wall Street analysts, 24 recommended a “Buy” rating, while 14 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Oppenheimer on November 30, 2023 offering an Outperform rating for the stock and assigned a target price range of between $220 and $240 to it.
