Elo Mutual Pension Insurance Co Buys 2,024 Shares of Snowflake Inc. (NYSE:SNOW)

Elo Mutual Pension Insurance Co increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,599 shares of the company’s stock after buying an additional 2,024 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Snowflake were worth $3,728,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Snowflake by 1.4% in 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 period. Jennison Associates LLC boosted its holdings in Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after purchasing an additional 249,249 shares during the period. Sands Capital Management LLC boosted its holdings in Snowflake by 12.6% in the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after purchasing an additional 610,970 shares during the period. WCM Investment Management LLC increased its holdings in shares of Snowflake by 0.6% during the first quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock worth $298,644,000 after purchasing an additional 11,677 shares during the period. Finally, 1832 Asset Management L.P. raised its position in shares of Snowflake by 51.8% in the fourth quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock valued at $334,459,000 after buying an additional 573,400 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and issued a $220.00 price target on shares of Snowflake in a research report on Thursday, May 23rd. Stifel Nicolaus dropped their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Scotiabank reduced their price objective on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group dropped their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $176.03.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,295 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.19, for a total value of $162,121.05. Following the transaction, the insider now owns 58,791 shares in the company, valued at $7,360,045.29. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 1,295 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.19, for a total transaction of $162,121.05. Following the transaction, the insider now owns 58,791 shares in the company, valued at $7,360,045.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the transaction, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The disclosure for this sale can be found here. Insiders sold 518,498 shares of company stock valued at $63,995,494 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Down 0.8 %

Shares of SNOW stock opened at $110.78 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 of $121.87 and a 200-day moving average of $140.21. The company has a market cap of $37.09 billion, a price-to-earnings ratio of -39.56 and a beta of 0.83.

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 the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.52) earnings per share. Analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current 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.