Snowflake Inc. (NYSE:SNOW) Shares Purchased by Choreo LLC

Choreo LLC boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 48.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,246 shares of the company’s stock after purchasing an additional 3,979 shares during the quarter. Choreo LLC’s holdings in Snowflake were worth $1,745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Norges Bank acquired a new position in Snowflake during the fourth quarter worth $838,455,000. Swedbank AB purchased a new stake in Snowflake in the first quarter valued at $258,957,000. Vanguard Group Inc. raised its position in Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Snowflake in the first quarter valued at $171,608,000. Finally, Cibc World Markets Corp purchased a new stake in Snowflake in the fourth quarter valued at $147,120,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, insider Benoit Dageville sold 1,295 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.19, for a total value of $162,121.05. Following the completion of the sale, the insider now directly owns 58,791 shares of the company’s stock, valued at approximately $7,360,045.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Snowflake news, Director Teresa Briggs sold 848 shares of the stock in a transaction that occurred 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 directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 1,295 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.19, for a total value of $162,121.05. Following the sale, the insider now directly owns 58,791 shares of the company’s stock, valued at $7,360,045.29. The disclosure for this sale can be found here. Insiders sold a total of 512,262 shares of company stock valued at $63,340,261 in the last three months. 7.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

NYSE:SNOW opened at $112.00 on Thursday. The stock has a market cap of $37.54 billion, a P/E ratio of -40.00 and a beta of 0.84. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The stock has a 50-day simple moving average of $124.67 and a 200-day simple moving average of $143.76.

Snowflake (NYSE:SNOW) last announced 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 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%. The business’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.52) EPS. On average, equities research analysts predict that Snowflake Inc. will post -2.42 EPS for the current year.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. JMP Securities reduced their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Citigroup reduced their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Sanford C. Bernstein boosted their price objective on Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Finally, TD Cowen cut their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $176.03.

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.