Skandinaviska Enskilda Banken AB publ Has $8.17 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Skandinaviska Enskilda Banken AB publ boosted its stake in Snowflake Inc. (NYSE:SNOW) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,461 shares of the company’s stock after buying an additional 4,903 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Snowflake were worth $8,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted 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 purchasing an additional 297,428 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Snowflake by 3.7% during the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after buying an additional 249,249 shares during the last quarter. Sands Capital Management LLC lifted its holdings in shares of Snowflake by 12.6% during 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 buying an additional 610,970 shares during the last quarter. WCM Investment Management LLC increased its holdings in Snowflake by 0.6% in the first quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock worth $298,644,000 after buying an additional 11,677 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Snowflake by 51.8% during 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 acquiring an additional 573,400 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SNOW shares. JMP Securities cut their price target on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price target on shares of Snowflake in a report on Monday, July 1st. Canaccord Genuity Group dropped their price target on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Barclays decreased their price objective on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Two equities research 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 MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.03.

Snowflake Trading Down 3.3 %

Shares of SNOW opened at $110.27 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The stock has a 50 day simple moving average of $120.87 and a 200-day simple moving average of $139.36. The stock has a market cap of $36.96 billion, a PE ratio of -39.38 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm posted ($0.52) EPS. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts forecast that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Insider Activity at Snowflake

In related news, Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the sale, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the sale, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The disclosure for this sale can be found here. Insiders sold 517,203 shares of company stock valued at $63,833,373 in the last three months. Corporate insiders own 7.80% of the company’s stock.

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.