Snowflake Inc. (NYSE:SNOW) Stock Position Lifted by Manchester Global Management UK Ltd

Manchester Global Management UK Ltd grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 18.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,524 shares of the company’s stock after buying an additional 25,000 shares during the period. Snowflake comprises 3.7% of Manchester Global Management UK Ltd’s portfolio, making the stock its 15th largest position. Manchester Global Management UK Ltd’s holdings in Snowflake were worth $21,280,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Accent Capital Management LLC bought a new stake in shares of Snowflake in the 4th quarter worth approximately $25,000. LRI Investments LLC lifted its holdings in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake in the 2nd quarter worth approximately $27,000. Riverview Trust Co bought a new stake in shares of Snowflake in the 1st quarter worth approximately $31,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Snowflake in the 1st quarter worth approximately $32,000. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup cut their price target on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. DA Davidson lowered their target price on Snowflake from $230.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Needham & Company LLC lowered their target price on Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Barclays lowered their target price on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research 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 company. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Teresa Briggs sold 848 shares of Snowflake 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 owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the sale, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Insiders sold a total of 48,083 shares of company stock valued at $6,089,392 over the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Up 2.7 %

Shares of Snowflake stock opened at $113.25 on Tuesday. The stock has a market cap of $37.92 billion, a PE ratio of -40.45 and a beta of 0.83. The business has a fifty day simple moving average of $120.46 and a 200-day simple moving average of $138.78. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.52) earnings per share. Analysts expect that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Snowflake Company 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.