Snowflake Inc. (NYSE:SNOW) Shares Purchased by Slow Capital Inc.

Slow Capital Inc. boosted its position in Snowflake Inc. (NYSE:SNOW) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,979 shares of the company’s stock after purchasing an additional 1,592 shares during the quarter. Slow Capital Inc.’s holdings in Snowflake were worth $3,788,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC increased its stake in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the 2nd quarter worth $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter worth $30,000. Riverview Trust Co acquired a new stake in shares of Snowflake in the 1st quarter worth $31,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Snowflake in the 1st quarter worth $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $220.00 target price on shares of Snowflake in a research note on Monday, July 1st. TD Cowen cut their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Citigroup cut their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Needham & Company LLC cut their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company cut their price objective on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.74.

Snowflake Stock Up 0.4 %

SNOW stock opened at $119.54 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The business has a 50 day moving average price of $116.65 and a 200 day moving average price of $133.31. The stock has a market cap of $40.02 billion, a price-to-earnings ratio of -42.70 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period in the prior year, the business earned ($0.52) earnings per share. The business’s revenue was up 28.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is currently owned by insiders.

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, as well as applies artificial intelligence (AI) for solving business problems.