Andar Capital Management HK Ltd Takes Position in Snowflake Inc. (NYSE:SNOW)

Andar Capital Management HK Ltd acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,000 shares of the company’s stock, valued at approximately $1,891,000. Snowflake accounts for approximately 2.6% of Andar Capital Management HK Ltd’s investment portfolio, making the stock its 18th largest position.

A number of other hedge funds have also modified their holdings of the company. Comerica Bank grew its holdings 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 period. Choreo LLC grew its holdings in Snowflake by 18.6% during the first quarter. Choreo LLC now owns 8,267 shares of the company’s stock worth $1,336,000 after acquiring an additional 1,294 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Snowflake by 23.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after acquiring an additional 43,062 shares during the period. Trexquant Investment LP grew its holdings in Snowflake by 266.3% during the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock worth $2,089,000 after acquiring an additional 7,633 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in Snowflake during the first quarter worth about $244,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 3,455 shares of Snowflake stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $126.08, for a total value of $435,606.40. Following the completion of the sale, the director now directly owns 221,016 shares of the company’s stock, valued at $27,865,697.28. The disclosure for this sale can be found here. Insiders sold a total of 512,262 shares of company stock valued at $63,340,261 over the last quarter. 7.80% of the stock is owned by insiders.

Snowflake Stock Performance

Shares of Snowflake stock opened at $111.62 on Wednesday. The business’s 50 day moving average price is $122.40 and its 200 day moving average price is $140.42. The company has a market cap of $37.42 billion, a price-to-earnings ratio of -39.86 and a beta of 0.83. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

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 the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm’s quarterly revenue 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, analysts predict that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the topic of several analyst reports. TD Cowen dropped their target price on Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Robert W. Baird dropped their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Sanford C. Bernstein raised their price objective on Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and raised their price objective for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, Loop Capital dropped their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently 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.