76,000 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Octahedron Capital Management L.P.

Octahedron Capital Management L.P. purchased a new position in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 76,000 shares of the company’s stock, valued at approximately $10,267,000. Snowflake comprises 10.3% of Octahedron Capital Management L.P.’s investment portfolio, making the stock its 3rd largest position.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after purchasing an additional 297,428 shares during the last quarter. Jennison Associates LLC increased its position in Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after acquiring an additional 249,249 shares during the period. Sands Capital Management LLC increased its position in Snowflake by 12.6% in the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after acquiring an additional 610,970 shares during the period. WCM Investment Management LLC increased its position in Snowflake by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock valued at $298,644,000 after acquiring an additional 11,677 shares during the period. Finally, 1832 Asset Management L.P. increased its position in Snowflake by 51.8% in the 4th quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock valued at $334,459,000 after acquiring an additional 573,400 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $501,349.55. Following the transaction, the chief accounting officer now owns 30,613 shares in the company, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 517,203 shares of company stock worth $63,833,373. 7.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on SNOW shares. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 target price on shares of Snowflake in a research report on Monday, July 1st. Rosenblatt Securities restated a “buy” rating and issued a $195.00 target price on shares of Snowflake in a research report on Monday, August 19th. Wells Fargo & Company lowered their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Scotiabank dropped their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Mizuho decreased their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. 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. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $176.03.

Snowflake Price Performance

SNOW stock opened at $110.26 on Friday. The firm has a market capitalization of $36.96 billion, a P/E ratio of -39.38 and a beta of 0.83. The company’s 50 day simple moving average is $120.87 and its 200-day simple moving average is $139.56. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.52) EPS. Sell-side analysts predict that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Snowflake 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.