Snowflake Inc. $SNOW Shares Bought by Victrix Investment Advisors

Victrix Investment Advisors lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 22.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,265 shares of the company’s stock after buying an additional 793 shares during the period. Victrix Investment Advisors’ holdings in Snowflake were worth $954,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in shares of Snowflake by 4.5% during the 2nd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 11,500 shares of the company’s stock worth $2,573,000 after buying an additional 500 shares during the last quarter. Sicart Associates LLC acquired a new stake in shares of Snowflake during the 2nd quarter worth $225,000. Cooper Financial Group acquired a new stake in shares of Snowflake during the 2nd quarter worth $947,000. Truist Financial Corp increased its holdings in shares of Snowflake by 8.8% during the 2nd quarter. Truist Financial Corp now owns 54,137 shares of the company’s stock worth $12,114,000 after buying an additional 4,375 shares during the last quarter. Finally, Chicago Capital LLC increased its holdings in shares of Snowflake by 32.7% during the 2nd quarter. Chicago Capital LLC now owns 9,631 shares of the company’s stock worth $2,155,000 after buying an additional 2,372 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE:SNOW opened at $225.60 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a 50-day moving average of $214.75 and a two-hundred day moving average of $194.23. The stock has a market cap of $76.43 billion, a P/E ratio of -54.36 and a beta of 1.22. Snowflake Inc. has a 1-year low of $108.71 and a 1-year high of $249.99.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $221.47, for a total transaction of $11,148,356.86. Following the transaction, the director owned 36,956 shares of the company’s stock, valued at approximately $8,184,645.32. This trade represents a 57.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director directly owned 165,507 shares in the company, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,759,924 shares of company stock valued at $397,943,442. Insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. DA Davidson reiterated a “buy” rating and issued a $250.00 price target on shares of Snowflake in a report on Monday, August 25th. Mizuho increased their price target on Snowflake from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Cantor Fitzgerald increased their price target on Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Stephens assumed coverage on Snowflake in a report on Friday, July 18th. They issued an “overweight” rating and a $261.00 price target for the company. Finally, Scotiabank increased their price target on Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $255.53.

About Snowflake

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.