The Vanguard Group, Inc. has recently announced that it has increased stake in Snowflake Inc. (NYSE:SNOW) by 3.97%. After grabbing 15.52 million shares, the institutional investor is now in possession of 0.59 million shares of the Technology Company. The new investment brought the stake of investor firm to 4.85% having worth around $2.49 billion. Moreover, Morgan Stanley Investment Managem increased its share by 0.45 million to have a control over 13.89 million shares. And T. Rowe Price Associates, Inc. raised its holdings to 1.27 million shares by acquiring 8.74 million shares or 2.73% of the stake.
Snowflake Inc. (SNOW) concluded trading on 11/17/22 at a closing price of $147.69, with 4.54 million shares of worth about $670.73 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.59% during that period and on Thursday the price saw a loss of about -4.19%. Currently the company’s common shares owned by public are about 318.36M shares, out of which, 289.76M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 41 analysts are covering the SNOW stock and their offered price forecasts bring an average price target of $212.34. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $500.00 and could fall to a lowest price of $100.00. The stock’s current price level is 31.87% above of average price target set by the analysts, while a rise to estimated low would result in loss of -47.69% for the stock. However, touching the estimated high of $500.00 would mean a gain of 70.46% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 134 times over the past 12 months. They bought 2,274,253 shares in 24 of the transactions. In 110 selling transactions, insiders dumped 3,364,449 shares.
Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and American Funds AMCAP Fund are the top 3 mutual funds which are holding stakes in Snowflake Inc. Vanguard Total Stock Market Index is currently holding 8.07 million shares of worth totaling $1.29 billion. The company recently came buying 0.12 million shares which brought its stake up to 2.52% of the company’s outstanding shares. Vanguard Extended Market Index Fu bought 0.52 million shares, after which its hold over company’s outstanding shares expand to 1.14%, leaving 3.65 million shares with the mutual fund that have a worth of about $584.73 million. American Funds AMCAP Fund, after buying 3.63 million shares, have now control over 1.13% of the stake in the company. It holds 0.77 million shares of worth $581.27 million.
Snowflake Inc. (NYSE: SNOW) started trading at $149.732, below -$4.42 from concluding price of the previous day. However, the stock later moved at a day high price of 151.79, or with a loss of -4.19%. Stock saw a price change of 1.59% in past 5 days and over the past one month there was a price change of -13.65%. Year-to-date (YTD), SNOW shares are showing a performance of -56.40% which decreased to -62.89% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $110.26 but also hit the highest price of $405.00 during that period. The average intraday trading volume for Snowflake Inc. shares is 6.95 million. The stock is currently trading -5.36% below its 20-day simple moving average (SMA20), while that difference is down -11.98% for SMA50 and it goes to -17.40% lower than SMA200.
The Vanguard Group, Inc. acquired 15.52 million shares of Snowflake Inc. having value of about $2.49 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.59 million shares in the company valued at close to $87558459.57, or have control over 3.97% stake in the company. Snowflake Inc. (NYSE: SNOW) currently have 318.36M outstanding shares and institutions hold larger chunk of about 67.90% of that. Holding of mutual funds in the company is about 33.96% while other institutional holders and individual stake holders have control over 36.00% and 26.99% of the stake respectively.
The stock has a current market capitalization of $43.10B. It has posted earnings per share of -$2.17 in the same period. It has Quick Ratio of 3.20 while making debt-to-equity ratio of 0.00. 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 6.49% while standing at 6.40% over the month.
Analysts are in expectations that Snowflake Inc. (SNOW) stock would likely to be making an EPS of $0.04 in the current quarter, while forecast for next quarter EPS is $0.04 and it is $0.44 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.01 which is $0.11 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 $0.04 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -20.90% while it is estimated to increase by 162.65% in next year.
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 Macquarie on November 02, 2022 offering a Neutral rating for the stock and assigned a target price of $173 to it. On September 22, 2022, MoffettNathanson Initiated their recommendations, while on September 16, 2022, Needham Initiated their ratings for the stock with a price target of $240. Stock get an Equal weight rating from CapitalOne on August 19, 2022.