Symmetry Investments LP Buys Shares of 2,200 Snowflake Inc. (NYSE:SNOW)

Symmetry Investments LP purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,200 shares of the company’s stock, valued at approximately $297,000.

Several other institutional investors have also modified their holdings of the company. Swedbank AB bought a new position in shares of Snowflake in the first quarter valued at approximately $258,957,000. Vanguard Group Inc. boosted its stake in Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Snowflake during the 1st quarter worth approximately $171,608,000. Cibc World Markets Corp acquired a new stake in Snowflake during the 4th quarter valued at $147,120,000. Finally, Sands Capital Management LLC lifted its holdings in shares of Snowflake by 12.6% in the fourth 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 in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and lifted their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Citigroup reduced their price target 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. Mizuho decreased their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, Bank of America dropped their price objective on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $176.03.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of Snowflake 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 sale, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 517,203 shares of company stock worth $63,833,373. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $110.27 on Friday. The stock has a market capitalization of $36.96 billion, a price-to-earnings ratio of -39.38 and a beta of 0.83. The company has a 50-day moving average of $120.87 and a two-hundred day moving average of $139.36. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) 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 analyst estimates 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 was up 28.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.52) EPS. Equities analysts expect that Snowflake Inc. will post -2.42 EPS 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.