Plato Investment Management Ltd Grows Stake in Snowflake Inc. (NYSE:SNOW)

Plato Investment Management Ltd boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 1,048.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,362 shares of the company’s stock after purchasing an additional 4,895 shares during the quarter. Plato Investment Management Ltd’s holdings in Snowflake were worth $615,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after buying an additional 297,428 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares in the last quarter. Swedbank AB purchased a new stake in shares of Snowflake in the first quarter valued at about $258,957,000. Bank of New York Mellon Corp grew its position in shares of Snowflake by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock valued at $216,142,000 after purchasing an additional 8,743 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Snowflake by 90.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after purchasing an additional 600,469 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SNOW shares. Needham & Company LLC reduced their target price on Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research note 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. JMP Securities dropped their price objective on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird reduced their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Finally, TD Cowen lowered their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $172.09.

Snowflake Trading Down 1.2 %

SNOW opened at $129.19 on Friday. The firm’s 50 day moving average is $116.03 and its 200-day moving average is $128.90. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

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 company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the prior year, the company posted ($0.52) EPS. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock worth $7,061,544 in the last ninety days. 7.80% of the stock is owned by insiders.

Snowflake 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.