8,383 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,383 shares of the company’s stock, valued at approximately $1,132,000.

Several other large investors also recently added to or reduced their stakes in the company. Accent Capital Management LLC acquired a new position in Snowflake during the fourth quarter valued at $25,000. LRI Investments LLC purchased a new stake in shares of Snowflake in the first quarter worth approximately $29,000. FinTrust Capital Advisors LLC boosted its holdings in shares of Snowflake by 193.9% during 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 period. Riverview Trust Co purchased a new position in Snowflake during the first quarter valued at approximately $31,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Snowflake in the 1st quarter valued at approximately $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $112.61 on Thursday. The business has a fifty day moving average of $119.54 and a 200-day moving average of $138.25. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The firm has a market cap of $37.75 billion, a PE ratio of -40.22 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate 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 net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.52) EPS. On average, analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Insider Activity

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 transaction of $2,144,700.00. Following the completion of the sale, the executive vice president now directly owns 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake 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 transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The sale was disclosed in a legal filing with the SEC, which is available 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 transaction 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 90 days. 7.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SNOW shares. Citigroup decreased their target price on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Wells Fargo & Company lowered their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. UBS Group lowered their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Loop Capital dropped their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.17.

About Snowflake

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.