Symmetry Investments LP Takes $297,000 Position in Snowflake Inc. (NYSE:SNOW)

Symmetry Investments LP purchased a new position in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 2,200 shares of the company’s stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised 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 buying an additional 297,428 shares in the last quarter. Jennison Associates LLC raised its stake in Snowflake by 3.7% during the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after acquiring an additional 249,249 shares in the last quarter. Sands Capital Management LLC lifted its holdings in shares of Snowflake by 12.6% during the fourth 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 boosted its stake in shares of 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 purchasing an additional 11,677 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of 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 purchasing an additional 573,400 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the sale, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Teresa Briggs sold 848 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the sale, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 6,251 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $715,051.89. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at $23,877,196.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,203 shares of company stock valued at $63,833,373. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SNOW shares. Barclays cut their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of Snowflake in a report on Monday, August 19th. Royal Bank of Canada dropped their price target on Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Robert W. Baird reduced their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Finally, Canaccord Genuity Group lowered their target price on Snowflake from $215.00 to $190.00 and set a “buy” 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $110.27 on Friday. The firm has a 50 day moving average price of $120.87 and a 200 day moving average price of $139.36. The stock has a market cap of $36.96 billion, a P/E ratio of -39.38 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 announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during 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 firm’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.52) EPS. Analysts predict that Snowflake Inc. will post -2.42 earnings per share 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.