Snowflake Inc. (NYSE:SNOW) Position Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Snowflake Inc. (NYSE:SNOW) by 6.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 80,479 shares of the company’s stock after acquiring an additional 4,634 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Snowflake were worth $9,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SNOW. LRI Investments LLC raised its position in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in Snowflake during the second quarter valued at about $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake in the third quarter worth about $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake in the second quarter worth approximately $39,000. Finally, Waldron Private Wealth LLC acquired a new stake in shares of Snowflake during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent analyst reports. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Robert W. Baird lowered their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. JMP Securities dropped their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Scotiabank decreased their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. Finally, UBS Group dropped their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Snowflake Stock Up 1.0 %

SNOW opened at $116.04 on Monday. The stock’s 50 day moving average price is $115.59 and its two-hundred day moving average price is $131.68. The firm has a market capitalization of $38.85 billion, a P/E ratio of -41.44 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 quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.52) earnings per share. As a group, analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is currently owned by company insiders.

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.