American Assets Inc. Buys New Shares in Snowflake Inc. (NYSE:SNOW)

American Assets Inc. purchased a new position in Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, Holdings Channel reports. The firm purchased 4,000 shares of the company’s stock, valued at approximately $459,000. Snowflake accounts for about 0.2% of American Assets Inc.’s holdings, making the stock its 15th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Snowflake by 1.4% in the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after purchasing an additional 297,428 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares in the last quarter. Swedbank AB bought a new position in shares of Snowflake during the 1st quarter worth about $258,957,000. Bank of New York Mellon Corp increased its stake in Snowflake by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock valued at $216,142,000 after acquiring an additional 8,743 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in Snowflake by 90.3% in the second 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 in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW traded up $2.12 on Tuesday, reaching $125.62. The company’s stock had a trading volume of 1,040,938 shares, compared to its average volume of 6,442,804. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The business’s 50-day moving average price is $115.33 and its two-hundred day moving average price is $129.12. The firm has a market cap of $42.11 billion, a PE ratio of -40.35 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) 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 business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the prior year, the business earned ($0.52) EPS. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, sell-side analysts expect that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 287 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares in the company, valued at $5,932,582.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,061,544 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNOW. Stifel Nicolaus lowered their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Monness Crespi & Hardt upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, November 6th. Barclays reduced their target price on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Citigroup dropped their target price on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Finally, Needham & Company LLC reduced their price target on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two 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, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $172.09.

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.