V Square Quantitative Management LLC Takes $30,000 Position in Snowflake Inc. (NYSE:SNOW)

V Square Quantitative Management LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 261 shares of the company’s stock, valued at approximately $30,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd increased its position in shares of Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after acquiring an additional 70 shares during the period. IAM Advisory LLC increased its position in Snowflake by 2.0% during the 1st quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock valued at $600,000 after purchasing an additional 74 shares during the period. Joseph P. Lucia & Associates LLC raised its holdings in shares of Snowflake by 2.6% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock valued at $478,000 after purchasing an additional 75 shares in the last quarter. Modus Advisors LLC raised its holdings in shares of Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after purchasing an additional 94 shares in the last quarter. Finally, Iron Gate Global Advisors LLC lifted its position in shares of Snowflake by 0.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock worth $1,878,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent research reports. TD Cowen reduced their price objective on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Bank of America decreased their price objective on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Citigroup cut their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Evercore ISI decreased their price target on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.74.

Snowflake Stock Up 0.0 %

Shares of SNOW opened at $119.58 on Tuesday. The company has a market capitalization of $40.04 billion, a price-to-earnings ratio of -42.71 and a beta of 0.83. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The stock’s 50-day moving average price is $116.58 and its 200-day moving average price is $132.79.

Snowflake (NYSE:SNOW) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.52) EPS. As a group, equities analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is owned by company insiders.

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.