Ayalon Insurance Comp Ltd. Acquires Shares of 15,383 Snowflake Inc. (NYSE:SNOW)

Ayalon Insurance Comp Ltd. bought a new position in Snowflake Inc. (NYSE:SNOW) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 15,383 shares of the company’s stock, valued at approximately $2,486,000.

A number of other large investors have also recently modified their holdings of SNOW. Acadian Asset Management LLC lifted its position in Snowflake by 34.3% during the third quarter. Acadian Asset Management LLC now owns 3,364 shares of the company’s stock valued at $512,000 after buying an additional 860 shares during the period. Northern Trust Corp lifted its holdings in shares of Snowflake by 5.4% during the third quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock valued at $287,556,000 after purchasing an additional 95,814 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in shares of Snowflake by 16.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,521 shares of the company’s stock worth $232,000 after purchasing an additional 219 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Snowflake by 11.5% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,875 shares of the company’s stock worth $592,000 after buying an additional 400 shares during the last quarter. Finally, Profund Advisors LLC increased its position in Snowflake by 11.1% during the 3rd quarter. Profund Advisors LLC now owns 13,671 shares of the company’s stock valued at $2,089,000 after buying an additional 1,367 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of SNOW stock traded up $4.93 during trading hours on Wednesday, hitting $129.14. The stock had a trading volume of 10,865,822 shares, compared to its average volume of 6,611,129. The stock has a market capitalization of $43.24 billion, a price-to-earnings ratio of -44.71 and a beta of 0.85. Snowflake Inc. has a one year low of $122.60 and a one year high of $237.72. The stock’s 50-day moving average price is $146.63 and its two-hundred day moving average price is $174.37.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million for the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. As a group, equities research analysts predict that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SNOW shares. HSBC reissued a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Royal Bank of Canada reduced their price objective on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of Snowflake in a research note on Thursday, June 6th. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Thursday, May 2nd. Finally, Bank of America reaffirmed a “neutral” rating and issued a $200.00 price objective on shares of Snowflake in a research report on Wednesday, June 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $198.64.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser purchased 76,200 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was bought at an average price of $131.09 per share, for a total transaction of $9,989,058.00. Following the completion of the transaction, the director now owns 1,632,225 shares in the company, valued at approximately $213,968,375.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael L. Speiser purchased 76,200 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was bought at an average cost of $131.09 per share, for a total transaction of $9,989,058.00. Following the completion of the transaction, the director now directly owns 1,632,225 shares in the company, valued at $213,968,375.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Benoit Dageville sold 1,295 shares of Snowflake stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.19, for a total transaction of $162,121.05. Following the transaction, the insider now directly owns 58,791 shares of the company’s stock, valued at $7,360,045.29. The disclosure for this sale can be found here. Insiders have sold a total of 46,147 shares of company stock valued at $6,686,742 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

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.