Snowflake Inc. (NYSE:SNOW) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,220 shares of the company’s stock after selling 15,370 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.06% of Snowflake worth $24,471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB purchased a new position in Snowflake in the 1st quarter worth $258,957,000. AQR Capital Management LLC increased its holdings in shares of Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares during the period. SG Americas Securities LLC raised its stake in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after purchasing an additional 628,511 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Snowflake by 90.3% during the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after purchasing an additional 600,469 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Snowflake by 12,318.3% in the third quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after buying an additional 526,608 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 1.0 %

SNOW opened at $117.23 on Tuesday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The firm has a market capitalization of $39.30 billion, a PE ratio of -38.31 and a beta of 0.83. The firm’s 50-day moving average price is $115.31 and its 200 day moving average price is $131.39.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the previous year, the firm posted ($0.52) EPS. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group reduced their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Evercore ISI reduced their target price on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Scotiabank decreased their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird cut their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.74.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction on 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 owns 53,820 shares in the company, valued at $6,156,469.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Benoit Dageville sold 1,946 shares of the firm’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 transaction of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,538 shares of company stock valued at $7,049,994. Insiders own 7.80% of the company’s stock.

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.