Versor Investments LP Takes $200,000 Position in Snowflake Inc. $SNOW

Versor Investments LP bought a new stake in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 894 shares of the company’s stock, valued at approximately $200,000.

Other large investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Snowflake during the 2nd quarter worth about $3,900,134,000. Nuveen LLC bought a new stake in Snowflake during the first quarter worth about $555,847,000. AQR Capital Management LLC boosted its position in Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after purchasing an additional 2,460,769 shares during the last quarter. Jennison Associates LLC boosted its position in Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after purchasing an additional 1,363,389 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after purchasing an additional 763,673 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $262.72 on Friday. The firm has a market cap of $89.01 billion, a price-to-earnings ratio of -63.31 and a beta of 1.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company’s fifty day simple moving average is $240.55 and its 200 day simple moving average is $214.54. Snowflake Inc. has a 12-month low of $119.66 and a 12-month high of $280.67.

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. JMP Securities increased their price target on shares of Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 28th. Stifel Nicolaus raised their price objective on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Cantor Fitzgerald boosted their target price on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Cowen reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Finally, Truist Financial upped their price objective on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $258.95.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the transaction, the executive vice president owned 522,450 shares in the company, valued at $145,100,038.50. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the sale, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This trade represents a 4.65% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 880,647 shares of company stock worth $203,522,973. 6.80% of the stock is owned by company insiders.

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.