The Vanguard Group, Inc. recently announced the acquisition of new stake in Snowflake Inc (NYSE:SNOW). The institutional investor has increased its shareholding in the Technology company by 4.01% to 18.76 million shares with purchase of 0.72 million shares. This fresh investment now brings its stake to 5.70% valued currently at $3.73 billion. In addition, Altimeter Capital Management LP raised its holdings by 30675.0 to 15.4 million shares. And BlackRock Fund Advisors has lifted its position by 5.72% or 0.57 million shares – to 10.49 million shares.
Currently, there are 323.31M common shares owned by the public and among those 301.12M shares have been available to trade.
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Insiders at the company have transacted a total of 228 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 1,451,493 shares. Insider sales of the common stock occurred on 173 occasions, with total insider shares sold totaling 1,764,359 shares.
The top 3 mutual fund holders in Snowflake Inc are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Government Pension Fund – Global. Vanguard Total Stock Market ETF owns 9.32 million shares of the company’s stock, all valued at over $1.85 billion. The company bought an additional 0.63 million shares recently to bring their total holdings to about 2.83% of the shares outstanding. Vanguard Extended Market Index Fu bought 0.16 million shares to see its total holdings expand to 4.72 million shares valued at over $940.14 million and representing 1.44% of the shares outstanding. Government Pension Fund – Global bought 1.44 million shares to bring its total holdings to over 3.43 million shares at a value of $682.11 million. Government Pension Fund – Global now owns shares totaling to 1.04% of the shares outstanding.
However, the script later moved the day high at 202.32, up 3.09%. The company’s stock has a 5-day price change of 4.09% and 29.75% over the past three months. SNOW shares are trading 0.04% year to date (YTD), with the 12-month market performance up to 47.20% higher. It has a 12-month low price of $128.56 and touched a high of $202.83 over the same period. SNOW has an average intraday trading volume of 4.88 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.05%, 8.30%, and 19.51% respectively.
Institutional ownership of Snowflake Inc (NYSE: SNOW) shares accounts for 59.52% of the company’s 323.31M shares outstanding. Mutual fund holders own 31.63%, while other institutional holders and individual stakeholders account for 35.28% and 28.46% respectively.
It has a market capitalization of $65.56B and a beta (3y monthly) value of 0.97. The earnings-per-share (ttm) stands at -$2.68. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.17% over the week and 2.86% over the month.
Analysts forecast that Snowflake Inc (SNOW) will achieve an EPS of $ServiceNow, Inc. for the current quarter, $752.45 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $SDOW while analysts give the company a high EPS estimate of $UltraPro Short Dow30. Comparatively, EPS for the current quarter was $SilverBow Resorces, Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 217.66%, and 40.04% over the next financial year.
Looking at the support for the SNOW, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on January 12, 2024, with the firm’s price target at $198.
