Snowflake Inc. (NYSE:SNOW) Shares Purchased by Y.D. More Investments Ltd

Y.D. More Investments Ltd raised its position in Snowflake Inc. (NYSE:SNOW) by 124.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,500 shares of the company’s stock after buying an additional 3,600 shares during the period. Y.D. More Investments Ltd’s holdings in Snowflake were worth $878,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SNOW. AGF Management Ltd. acquired a new position in shares of Snowflake during the 4th quarter worth approximately $382,000. Dimensional Fund Advisors LP grew its position in shares of Snowflake by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock valued at $39,697,000 after purchasing an additional 10,575 shares during the period. Principal Financial Group Inc. increased its stake in shares of Snowflake by 17.5% during the fourth quarter. Principal Financial Group Inc. now owns 97,788 shares of the company’s stock worth $19,460,000 after purchasing an additional 14,542 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Snowflake by 26.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,722 shares of the company’s stock worth $940,000 after purchasing an additional 986 shares during the last quarter. Finally, Moran Wealth Management LLC purchased a new position in Snowflake in the 4th quarter valued at about $241,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research analyst reports. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. DA Davidson lowered their target price on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Loop Capital decreased their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Canaccord Genuity Group decreased their target price on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and upped their price target for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.03.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 1,535 shares of the company’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 transaction, the executive vice president now directly owns 749,615 shares in the company, valued at $94,399,016.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Snowflake news, EVP Christian Kleinerman sold 1,535 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $125.93, for a total value of $193,302.55. Following the sale, the executive vice president now owns 749,615 shares of the company’s stock, valued at $94,399,016.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The disclosure for this sale can be found here. Insiders sold 512,262 shares of company stock worth $63,340,261 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Up 1.6 %

NYSE SNOW opened at $112.00 on Thursday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The firm has a 50-day moving average price of $124.67 and a 200 day moving average price of $143.76. The stock has a market capitalization of $37.54 billion, a P/E ratio of -40.00 and a beta of 0.84.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.52) earnings per share. On average, equities research analysts expect that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

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.