Qsemble Capital Management LP Has $3.98 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Qsemble Capital Management LP increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 136.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,476 shares of the company’s stock after acquiring an additional 17,016 shares during the quarter. Snowflake accounts for about 0.8% of Qsemble Capital Management LP’s holdings, making the stock its 21st largest position. Qsemble Capital Management LP’s holdings in Snowflake were worth $3,982,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SNOW. Accent Capital Management LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in Snowflake during the first quarter valued at approximately $29,000. FinTrust Capital Advisors LLC grew its position in Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Riverview Trust Co purchased a new position in Snowflake during the first quarter valued at approximately $31,000. Finally, Hartford Financial Management Inc. purchased a new position in Snowflake during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $112.00 on Thursday. The company has a 50-day moving average of $124.67 and a 200-day moving average of $143.76. The company has a market capitalization of $37.54 billion, a price-to-earnings ratio of -40.00 and a beta of 0.84. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the firm earned ($0.52) EPS. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. Sell-side analysts forecast that Snowflake Inc. will post -2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. Mizuho lowered their price objective on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada decreased their target price on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. Citigroup decreased their target price on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $176.03.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 1,535 shares of Snowflake stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $125.93, for a total transaction of $193,302.55. Following the completion of the transaction, the executive vice president now directly owns 749,615 shares of the company’s stock, valued at approximately $94,399,016.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frank Slootman sold 3,455 shares of Snowflake stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $126.08, for a total transaction of $435,606.40. Following the completion of the transaction, the director now directly owns 221,016 shares of the company’s stock, valued at approximately $27,865,697.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 1,535 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $125.93, for a total transaction of $193,302.55. Following the completion of the sale, the executive vice president now owns 749,615 shares of the company’s stock, valued at approximately $94,399,016.95. The disclosure for this sale can be found here. Insiders sold 512,262 shares of company stock valued at $63,340,261 in the last ninety days. 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.