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

Napean Trading & Investment Co Singapore PTE Ltd increased its position in Snowflake Inc. (NYSE:SNOW) by 169.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,115 shares of the company’s stock after acquiring an additional 22,706 shares during the period. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Snowflake were worth $4,879,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in shares of Snowflake by 190.2% during the 2nd quarter. Acadian Asset Management LLC now owns 8,652 shares of the company’s stock worth $1,166,000 after buying an additional 5,671 shares during the last quarter. Chicago Capital LLC increased its holdings in Snowflake by 5.9% during the 2nd quarter. Chicago Capital LLC now owns 6,146 shares of the company’s stock valued at $830,000 after acquiring an additional 345 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in Snowflake by 5.5% during the second quarter. Cullen Frost Bankers Inc. now owns 46,142 shares of the company’s stock worth $6,233,000 after acquiring an additional 2,412 shares during the last quarter. Weil Company Inc. lifted its holdings in shares of Snowflake by 53.7% in the second quarter. Weil Company Inc. now owns 2,298 shares of the company’s stock valued at $310,000 after purchasing an additional 803 shares in the last quarter. Finally, Candriam S.C.A. grew its position in shares of Snowflake by 40.1% in the second quarter. Candriam S.C.A. now owns 52,289 shares of the company’s stock valued at $7,063,000 after purchasing an additional 14,970 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 546 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total value of $70,608.72. Following the completion of the transaction, the executive vice president now directly owns 756,489 shares in the company, valued at $97,829,157.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Snowflake news, Director Frank Slootman sold 1,476 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.47, for a total transaction of $189,621.72. Following the completion of the sale, the director now owns 230,527 shares in the company, valued at approximately $29,615,803.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 546 shares of Snowflake stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total value of $70,608.72. Following the sale, the executive vice president now owns 756,489 shares in the company, valued at $97,829,157.48. The disclosure for this sale can be found here. Insiders sold 512,678 shares of company stock valued at $63,434,135 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Snowflake Trading Down 2.9 %

Shares of NYSE SNOW opened at $108.56 on Friday. The stock has a fifty day moving average price of $126.57 and a 200 day moving average price of $146.13. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The company has a market cap of $36.35 billion, a P/E ratio of -38.77 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, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million during 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 company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) earnings per share. On average, sell-side analysts forecast that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Jefferies Financial Group decreased their price objective on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Mizuho cut their target price 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Finally, Canaccord Genuity Group cut their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target 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.