Ayalon Insurance Comp Ltd. Buys 4,522 Shares of Snowflake Inc. (NYSE:SNOW)

Ayalon Insurance Comp Ltd. raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 30.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,552 shares of the company’s stock after purchasing an additional 4,522 shares during the period. Ayalon Insurance Comp Ltd.’s holdings in Snowflake were worth $2,246,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SNOW. LRI Investments LLC raised its position in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake during the second quarter worth $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC acquired a new position in shares of Snowflake during the third quarter worth $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the second quarter worth $39,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

SNOW opened at $118.99 on Thursday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm has a market capitalization of $39.89 billion, a PE ratio of -38.89 and a beta of 0.83. The company’s 50-day moving average is $114.71 and its 200 day moving average is $131.02.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the prior year, the business posted ($0.52) EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. As a group, analysts expect that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the sale, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the sale, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This trade 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 $7,049,994. Insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SNOW shares. Canaccord Genuity Group lowered their price target on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Wells Fargo & Company lowered their price target on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Citigroup lowered their price target on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and upped their price target for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, DA Davidson restated a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.74.

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.