Joule Financial LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,372 shares of the company’s stock, valued at approximately $241,000.
Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Snowflake in the fourth quarter valued at about $477,435,000. GQG Partners LLC purchased a new stake in shares of Snowflake during the 1st quarter worth approximately $311,427,000. Fred Alger Management LLC acquired a new stake in shares of Snowflake in the 4th quarter worth approximately $119,432,000. Renaissance Technologies LLC purchased a new position in Snowflake in the 1st quarter valued at approximately $176,499,000. Finally, 1832 Asset Management L.P. raised its holdings in Snowflake by 44.4% during the fourth quarter. 1832 Asset Management L.P. now owns 1,713,500 shares of the company’s stock worth $245,956,000 after purchasing an additional 527,200 shares during the last quarter. Institutional investors and hedge funds own 63.74% of the company’s stock.
Snowflake Stock Performance
Shares of NYSE:SNOW traded down $8.75 during mid-day trading on Thursday, hitting $149.88. 5,262,096 shares of the company traded hands, compared to its average volume of 5,706,457. The firm’s 50 day simple moving average is $163.24 and its 200 day simple moving average is $160.03. The firm has a market cap of $49.42 billion, a P/E ratio of -56.54 and a beta of 0.78. Snowflake Inc. has a 52-week low of $119.27 and a 52-week high of $193.94.
Snowflake (NYSE:SNOW – Get Free Report) last posted its quarterly earnings data on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.12. The company had revenue of $674.00 million for the quarter, compared to analyst estimates of $662.22 million. Snowflake had a negative net margin of 35.22% and a negative return on equity of 14.07%. The business’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.67) earnings per share. Equities research analysts expect that Snowflake Inc. will post -1.62 EPS for the current fiscal year.
Insider Buying and Selling at Snowflake
In related news, SVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $184.94, for a total value of $277,410.00. Following the transaction, the senior vice president now owns 765,897 shares in the company, valued at $141,644,991.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $184.94, for a total transaction of $277,410.00. Following the completion of the sale, the senior vice president now owns 765,897 shares of the company’s stock, valued at $141,644,991.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Grzegorz Czajkowski sold 694 shares of Snowflake stock in a transaction on Monday, September 11th. The stock was sold at an average price of $166.27, for a total transaction of $115,391.38. Following the completion of the sale, the senior vice president now owns 54,701 shares of the company’s stock, valued at approximately $9,095,135.27. The disclosure for this sale can be found here. Insiders sold a total of 642,664 shares of company stock valued at $113,526,822 in the last ninety days. Insiders own 8.30% of the company’s stock.
Analyst Ratings Changes
SNOW has been the subject of a number of research analyst reports. Loop Capital dropped their price target on Snowflake from $200.00 to $195.00 in a research report on Thursday, May 25th. Guggenheim restated a “sell” rating and set a $105.00 target price on shares of Snowflake in a research report on Monday, August 14th. Barclays lowered their price target on shares of Snowflake from $190.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, August 24th. DA Davidson began coverage on Snowflake in a research note on Thursday, September 7th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $170.00 price target on shares of Snowflake in a research report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.85.
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.