Profund Advisors LLC Increases Stake in Snowflake Inc. (NYSE:SNOW)

Profund Advisors LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 31.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,868 shares of the company’s stock after buying an additional 4,764 shares during the period. Profund Advisors LLC’s holdings in Snowflake were worth $2,684,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of Snowflake in the 1st quarter valued at approximately $258,957,000. Vanguard Group Inc. grew its position in shares of Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after buying an additional 1,559,830 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Snowflake in the 1st quarter valued at $171,608,000. Cibc World Markets Corp purchased a new position in shares of Snowflake in the 4th quarter valued at $147,120,000. Finally, Sands Capital Management LLC grew its position in shares of Snowflake by 12.6% in 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. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNOW has been the topic of a number of recent analyst reports. JMP Securities dropped their target price on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 target price on shares of Snowflake in a research report on Thursday, August 22nd. TD Cowen dropped their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $220.00 target price on shares of Snowflake in a research report on Monday, July 1st. Finally, Bank of America decreased their price target on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

Snowflake Trading Down 3.3 %

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. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The firm has a 50-day moving average price of $120.87 and a two-hundred day moving average price of $139.36.

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

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 3,029 shares of Snowflake stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $346,487.31. Following the transaction, the executive vice president now directly owns 753,464 shares of the company’s stock, valued at $86,188,746.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. The disclosure for this sale can be found here. Insiders sold a total of 517,203 shares of company stock worth $63,833,373 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

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.