Sycomore Asset Management Acquires Shares of 55,953 Snowflake Inc. (NYSE:SNOW)

Sycomore Asset Management bought a new stake in Snowflake Inc. (NYSE:SNOW) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 55,953 shares of the company’s stock, valued at approximately $6,294,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Comerica Bank boosted its position in Snowflake by 17.2% during the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after acquiring an additional 4,296 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Snowflake by 23.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after acquiring an additional 43,062 shares during the period. Cetera Investment Advisers raised its stake in shares of Snowflake by 201.5% in the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after acquiring an additional 42,563 shares during the period. LRI Investments LLC purchased a new position in shares of Snowflake in the 1st quarter valued at $29,000. Finally, Fulton Bank N.A. raised its stake in shares of Snowflake by 17.4% in the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after acquiring an additional 228 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SNOW shares. Barclays dropped their price target 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. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Argus initiated coverage on shares of Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. Wedbush raised shares of Snowflake to a “hold” rating in a report on Thursday, October 17th. Finally, Bank of America decreased their price target on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.09.

Insider Activity

In other news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated 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 owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Up 0.1 %

Shares of SNOW stock traded up $0.13 on Thursday, reaching $130.86. The company had a trading volume of 2,209,037 shares, compared to its average volume of 6,467,190. The business’s 50-day moving average is $116.03 and its 200 day moving average is $128.90. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The stock has a market capitalization of $43.86 billion, a PE ratio of -42.71 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $851.72 million. During the same period last year, the business earned ($0.52) EPS. The business’s revenue was up 28.9% on a year-over-year basis. On average, sell-side analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current fiscal 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.