Snowflake Inc. (NYSE:SNOW) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 25.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,292 shares of the company’s stock after buying an additional 2,532 shares during the quarter. Parallel Advisors LLC’s holdings in Snowflake were worth $1,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SNOW. SYM FINANCIAL Corp purchased a new stake in Snowflake in the 2nd quarter worth $245,000. Meeder Advisory Services Inc. increased its stake in shares of Snowflake by 31.5% during the second quarter. Meeder Advisory Services Inc. now owns 4,688 shares of the company’s stock worth $633,000 after purchasing an additional 1,122 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Snowflake by 1.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 230,590 shares of the company’s stock worth $31,121,000 after purchasing an additional 3,490 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Snowflake by 51.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 21,798 shares of the company’s stock valued at $2,945,000 after buying an additional 7,389 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in Snowflake by 124.1% in the 2nd quarter. Y.D. More Investments Ltd now owns 6,500 shares of the company’s stock worth $878,000 after buying an additional 3,600 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 0.6 %

Shares of SNOW stock opened at $113.67 on Monday. The firm has a 50 day moving average of $123.48 and a two-hundred day moving average of $141.48. The stock has a market capitalization of $38.10 billion, a PE ratio of -40.60 and a beta of 0.83. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the business posted ($0.52) earnings per share. Snowflake’s revenue was up 28.9% compared to the same quarter last year. Analysts expect that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Emily Ho sold 3,845 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the transaction, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 558 shares of Snowflake 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 sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 512,262 shares of company stock valued at $63,340,261. 7.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Sanford C. Bernstein increased their target price on Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price objective on shares of Snowflake in a report on Monday, July 1st. Stifel Nicolaus dropped their target price on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, Wedbush dropped their price objective 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. Two equities research 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.