International Assets Investment Management LLC Acquires 1,701 Shares of Snowflake Inc. (NYSE:SNOW)

International Assets Investment Management LLC raised its stake in Snowflake Inc. (NYSE:SNOW) by 66.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,275 shares of the company’s stock after acquiring an additional 1,701 shares during the quarter. International Assets Investment Management LLC’s holdings in Snowflake were worth $578,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Yousif Capital Management LLC grew its position in Snowflake by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 3,110 shares of the company’s stock worth $619,000 after acquiring an additional 138 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Snowflake during the fourth quarter valued at about $278,000. Certuity LLC bought a new stake in shares of Snowflake during the fourth quarter worth about $295,000. Victory Capital Management Inc. increased its stake in shares of Snowflake by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 340,566 shares of the company’s stock valued at $67,773,000 after buying an additional 4,650 shares during the period. Finally, Y.D. More Investments Ltd acquired a new position in shares of Snowflake in the fourth quarter valued at approximately $199,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 0.1 %

NYSE SNOW opened at $114.23 on Friday. The company has a fifty day moving average price of $128.40 and a 200-day moving average price of $150.28. Snowflake Inc. has a 1 year low of $107.93 and a 1 year high of $237.72.

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, topping analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 18.86%. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period in the prior year, the firm posted ($0.52) EPS. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities research analysts forecast that Snowflake Inc. will post -2.42 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the sale, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 527,678 shares of company stock valued at $65,491,235. 7.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on SNOW. Needham & Company LLC reduced their target price on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. KeyCorp boosted their price objective on shares of Snowflake from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Evercore ISI lowered their target price on Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Stifel Nicolaus reduced their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their price objective on Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.03.

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.