Snowflake Inc. (NYSE:SNOW) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 599.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,718 shares of the company’s stock after buying an additional 67,457 shares during the quarter. Snowflake comprises about 0.5% of Quantbot Technologies LP’s portfolio, making the stock its 17th biggest holding. Quantbot Technologies LP’s holdings in Snowflake were worth $10,634,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SNOW. Dimensional Fund Advisors LP increased its holdings in shares of Snowflake by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock valued at $36,332,000 after purchasing an additional 56,027 shares during the last quarter. Abound Wealth Management grew its holdings in Snowflake by 2,136.4% in the 2nd quarter. Abound Wealth Management now owns 738 shares of the company’s stock valued at $100,000 after buying an additional 705 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of Snowflake in the 2nd quarter worth $47,000. Plato Investment Management Ltd raised its holdings in shares of Snowflake by 107.6% during the 2nd quarter. Plato Investment Management Ltd now owns 467 shares of the company’s stock worth $63,000 after acquiring an additional 242 shares during the period. Finally, Retirement Planning Co of New England Inc. boosted its position in shares of Snowflake by 5.7% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,815 shares of the company’s stock valued at $380,000 after acquiring an additional 153 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Benoit Dageville sold 1,295 shares of Snowflake stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.19, for a total value of $162,121.05. Following the transaction, the insider now directly owns 58,791 shares of the company’s stock, valued at approximately $7,360,045.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 512,262 shares of company stock worth $63,340,261. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of analyst reports. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Macquarie decreased their price objective on Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Needham & Company LLC lowered their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Robert W. Baird decreased their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.03.

Snowflake Price Performance

Snowflake stock opened at $113.67 on Monday. The stock has a market cap of $38.10 billion, a PE ratio of -40.60 and a beta of 0.83. The stock’s fifty day moving average is $123.48 and its two-hundred day moving average is $141.48. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million for 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 business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.52) EPS. On average, research analysts expect that Snowflake Inc. will post -2.42 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.