2,218 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by Olympiad Research LP

Olympiad Research LP bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,218 shares of the company’s stock, valued at approximately $255,000.

Several other hedge funds have also recently bought and sold shares of SNOW. Swedbank AB acquired a new position in Snowflake during the 1st quarter worth about $258,957,000. AQR Capital Management LLC lifted its stake in Snowflake by 210.0% during the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares in the last quarter. SG Americas Securities LLC lifted its stake in Snowflake by 471.9% during the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after acquiring an additional 628,511 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Snowflake by 90.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after purchasing an additional 600,469 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Snowflake by 12,318.3% during the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock worth $60,977,000 after purchasing an additional 526,608 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SNOW shares. Citigroup cut their price target on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Scotiabank cut their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. Stifel Nicolaus cut their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Piper Sandler restated an “overweight” rating and set a $165.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Finally, UBS Group cut their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $174.17.

Insider Activity

In other news, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value 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 $23,998,330.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value 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 $23,998,330.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 in the last three months. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Up 1.7 %

Snowflake stock opened at $123.49 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The stock has a 50 day moving average of $114.83 and a two-hundred day moving average of $129.88. The stock has a market capitalization of $41.39 billion, a price-to-earnings ratio of -40.36 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 analysts’ consensus estimates 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 company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period last year, the firm earned ($0.52) EPS. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current year.

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.