Snowflake Inc. (NYSE:SNOW) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,922 shares of the company’s stock after purchasing an additional 522 shares during the quarter. Intech Investment Management LLC’s holdings in Snowflake were worth $2,556,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SNOW. Accent Capital Management LLC acquired a new stake in Snowflake during the fourth quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in Snowflake in the first quarter valued at $29,000. FinTrust Capital Advisors LLC boosted its stake in Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. Riverview Trust Co acquired a new position in Snowflake in the first quarter valued at $31,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Snowflake during the first quarter worth about $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Down 3.3 %

Shares of NYSE:SNOW opened at $110.27 on Monday. The company has a market capitalization of $36.96 billion, a P/E ratio of -39.38 and a beta of 0.83. The stock’s fifty day simple moving average is $120.87 and its 200-day simple moving average is $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 quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the company earned ($0.52) EPS. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research analyst reports. UBS Group decreased their target price on Snowflake from $171.00 to $155.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Piper Sandler restated an “overweight” rating and set a $165.00 target price on shares of Snowflake in a research report on Thursday, August 22nd. DA Davidson reduced their price target on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Needham & Company LLC lowered their price objective on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, JMP Securities dropped their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $176.03.

Insiders Place Their Bets

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. The disclosure for this sale can be found here. In the last three months, insiders sold 517,203 shares of company stock valued at $63,833,373. Company 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.