Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 17.71MM shares of Snowflake Inc (SNOW). This represents 5.51% of the company.
In their previous filing dated February 10, 2022 they reported 15.61MM shares and 5.10% of the company, an increase in shares of 13.47% and an increase in total ownership of 0.41% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 18.39% Upside
As of February 9, 2023, the average one-year price target for Snowflake is $188.31. The forecasts range from a low of $106.05 to a high of $525.00. The average price target represents an increase of 18.39% from its latest reported closing price of $159.06.
The projected annual revenue for Snowflake is $2,094MM, an increase of 12.56%. The projected annual EPS is $0.23.
What is the Fund Sentiment?
There are 1519 funds or institutions reporting positions in Snowflake. This is an increase of 33 owner(s) or 2.22% in the last quarter. Average portfolio weight of all funds dedicated to SNOW is 0.83%, an increase of 7.05%. Total shares owned by institutions increased in the last three months by 2.82% to 244,937K shares. The put/call ratio of SNOW is 0.77, indicating a bullish outlook.
What are large shareholders doing?
Altimeter Capital Management holds 17,002K shares representing 5.29% ownership of the company. No change in the last quarter.
ICONIQ Capital holds 14,423K shares representing 4.48% ownership of the company. In it's prior filing, the firm reported owning 17,423K shares, representing a decrease of 20.80%. The firm increased its portfolio allocation in SNOW by 5.49% over the last quarter.
Sc Us holds 13,845K shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 14,007K shares, representing a decrease of 1.17%. The firm increased its portfolio allocation in SNOW by 19.82% over the last quarter.
Capital Research Global Investors holds 8,216K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 7,279K shares, representing an increase of 11.40%. The firm increased its portfolio allocation in SNOW by 45.51% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,064K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 7,874K shares, representing an increase of 2.36%. The firm increased its portfolio allocation in SNOW by 30.47% over the last quarter.
Snowflake Background Information
(This description is provided by the company.)
Snowflake Inc. is a cloud computing-based data warehousing company based in San Mateo, California. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode. The company's name was chosen as a tribute to the founders' love of winter sports.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
