Napean Trading & Investment Co Singapore PTE Ltd Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Napean Trading & Investment Co Singapore PTE Ltd lifted its position in Snowflake Inc. (NYSE:SNOW) by 169.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,115 shares of the company’s stock after buying an additional 22,706 shares during the quarter. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Snowflake were worth $4,879,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Accent Capital Management LLC purchased a new stake in Snowflake during the fourth quarter worth about $25,000. LRI Investments LLC increased its stake in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in Snowflake during the 2nd quarter worth approximately $27,000. Riverview Trust Co purchased a new position in Snowflake in the 1st quarter valued at approximately $31,000. Finally, Hartford Financial Management Inc. acquired a new position in shares of Snowflake in the first quarter worth $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 2.9 %

SNOW opened at $108.56 on Friday. The business has a 50 day moving average price of $126.57 and a two-hundred day moving average price of $146.13. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a market cap of $36.35 billion, a PE ratio of -38.77 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, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the firm posted ($0.52) EPS. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. As a group, sell-side analysts expect that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Snowflake news, insider Benoit Dageville sold 558 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. The disclosure for this sale can be found here. In the last quarter, insiders sold 512,678 shares of company stock worth $63,434,135. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SNOW shares. Barclays reduced their price objective on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Wedbush decreased their price objective on Snowflake from $210.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. UBS Group cut their target price on shares of Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Mizuho decreased their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, Evercore ISI lowered their price target on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price 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.