RPG Investment Advisory LLC Acquires 10,913 Shares of Snowflake Inc. (NYSE:SNOW)

RPG Investment Advisory LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 85.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,749 shares of the company’s stock after purchasing an additional 10,913 shares during the quarter. RPG Investment Advisory LLC’s holdings in Snowflake were worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Snowflake by 1.4% during the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after acquiring an additional 297,428 shares during the last quarter. Legal & General Group Plc increased its position in Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after buying an additional 223,936 shares in the last quarter. Swedbank AB purchased a new stake in Snowflake in the first quarter worth about $258,957,000. Bank of New York Mellon Corp increased its position in Snowflake by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after buying an additional 8,743 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Snowflake by 90.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after buying an additional 600,469 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the transaction, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 over the last quarter. 7.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on SNOW shares. Loop Capital reduced their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Argus initiated coverage on Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating for the company. Canaccord Genuity Group cut their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. TD Cowen cut their target price on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Finally, DA Davidson reiterated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $172.09.

Snowflake Trading Up 1.6 %

NYSE SNOW opened at $125.51 on Wednesday. The stock has a market capitalization of $42.07 billion, a price-to-earnings ratio of -41.02 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The stock has a 50-day moving average of $115.64 and a 200 day moving average of $128.89.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the prior year, the firm earned ($0.52) earnings per share. The business’s revenue was up 28.9% compared to the same quarter last year. Equities analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Snowflake 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.