XTX Topco Ltd Purchases New Shares in Snowflake Inc. (NYSE:SNOW)

XTX Topco Ltd acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 27,925 shares of the company’s stock, valued at approximately $3,772,000. Snowflake makes up 0.3% of XTX Topco Ltd’s portfolio, making the stock its 24th largest position.

Other institutional investors have also recently made changes to their positions in the company. Commerce Bank increased its position in shares of Snowflake by 0.8% during the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after acquiring an additional 51 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Snowflake by 0.5% during the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after purchasing an additional 70 shares during the last quarter. Covestor Ltd raised its stake in shares of Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after purchasing an additional 70 shares during the period. IAM Advisory LLC boosted its holdings in shares of Snowflake by 2.0% in the 1st quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after buying an additional 74 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC grew its position in Snowflake by 2.6% during the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock valued at $478,000 after buying an additional 75 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SNOW shares. Citigroup dropped their target price on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Scotiabank reduced their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Needham & Company LLC dropped their price target on Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, JMP Securities decreased their price objective on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $176.03.

Insider Activity

In other news, insider Benoit Dageville sold 1,295 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.19, for a total value of $162,121.05. Following the completion of the sale, the insider now directly owns 58,791 shares in the company, valued at approximately $7,360,045.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Benoit Dageville sold 1,295 shares of Snowflake stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.19, for a total value of $162,121.05. Following the transaction, the insider now owns 58,791 shares in the company, valued at $7,360,045.29. The disclosure for this sale can be found here. Insiders sold 518,498 shares of company stock worth $63,995,494 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Trading Down 0.8 %

NYSE SNOW opened at $110.78 on Thursday. The business’s 50 day moving average is $121.87 and its two-hundred day moving average is $140.21. The stock has a market capitalization of $37.09 billion, a price-to-earnings ratio of -39.56 and a beta of 0.83. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last announced 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. The firm had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.52) EPS. Equities analysts forecast that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

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.