AQR Capital Management LLC Increases Position in Snowflake Inc. (NYSE:SNOW)

AQR Capital Management LLC boosted its position in Snowflake Inc. (NYSE:SNOW) by 210.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 974,576 shares of the company’s stock after acquiring an additional 660,168 shares during the quarter. AQR Capital Management LLC owned 0.29% of Snowflake worth $131,656,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SNOW. Accent Capital Management LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at $25,000. LRI Investments LLC bought a new stake in Snowflake in the first quarter worth $29,000. FinTrust Capital Advisors LLC lifted its stake in Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after purchasing an additional 128 shares during the last quarter. Riverview Trust Co purchased a new stake in Snowflake during the first quarter valued at about $31,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Snowflake during the first quarter valued at about $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $2,144,700.00. Following the completion of the transaction, the executive vice president now owns 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. The sale was disclosed in a legal filing with the SEC, which is available 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $2,144,700.00. Following the sale, the executive vice president now owns 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. The disclosure for this sale can be found here. Insiders have sold 45,386 shares of company stock valued at $5,715,941 over the last ninety days. Insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SNOW. Robert W. Baird lowered their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Needham & Company LLC reduced their price target on Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Wells Fargo & Company dropped their price objective on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $195.00 target price on shares of Snowflake in a research note on Monday, August 19th. Finally, DA Davidson dropped their price target on Snowflake from $230.00 to $175.00 and set a “buy” rating for the company 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.17.

Snowflake Stock Down 0.2 %

NYSE:SNOW opened at $112.43 on Friday. The stock has a market cap of $37.69 billion, a price-to-earnings ratio of -40.15 and a beta of 0.83. The company’s 50 day moving average price is $119.19 and its 200-day moving average price is $138.07. Snowflake Inc. has a 52 week low of $107.13 and a 52 week 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, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the business posted ($0.52) EPS. The company’s revenue was up 28.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.41 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.