Andra AP fonden Invests $3.23 Million in Snowflake Inc. (NYSE:SNOW)

Andra AP fonden purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 23,900 shares of the company’s stock, valued at approximately $3,229,000.

Several other institutional investors also recently bought and sold shares of the company. AGF Management Ltd. purchased a new stake in shares of Snowflake during the fourth quarter worth $382,000. Dimensional Fund Advisors LP grew its position in shares of Snowflake by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock valued at $39,697,000 after purchasing an additional 10,575 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Snowflake by 17.5% in the fourth quarter. Principal Financial Group Inc. now owns 97,788 shares of the company’s stock valued at $19,460,000 after purchasing an additional 14,542 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Snowflake by 26.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 4,722 shares of the company’s stock worth $940,000 after buying an additional 986 shares in the last quarter. Finally, Moran Wealth Management LLC acquired a new position in Snowflake during the fourth quarter worth $241,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SNOW. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Scotiabank reduced their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. Wedbush dropped their price target on shares of Snowflake from $210.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of Snowflake in a report on Monday, August 19th. Finally, Jefferies Financial Group lowered their price objective on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.03.

Snowflake Stock Up 0.9 %

Shares of SNOW opened at $112.99 on Friday. The company has a market capitalization of $37.87 billion, a price-to-earnings ratio of -40.35 and a beta of 0.84. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The stock has a 50 day moving average price of $124.07 and a 200 day moving average price of $143.55.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating 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 19.62%. The firm had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the firm posted ($0.52) EPS. The company’s revenue was up 28.9% on a year-over-year basis. On average, equities analysts anticipate that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 512,262 shares of company stock worth $63,340,261. Corporate insiders own 7.80% of the company’s stock.

Snowflake Company 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.