Snowflake Inc. (NYSE:SNOW) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in Snowflake Inc. (NYSE:SNOW) by 49.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 420,088 shares of the company’s stock after purchasing an additional 139,459 shares during the quarter. Victory Capital Management Inc. owned 0.13% of Snowflake worth $48,251,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in Snowflake in the 1st quarter worth about $29,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the 2nd quarter worth about $27,000. V Square Quantitative Management LLC acquired a new position in Snowflake in the 3rd quarter worth about $30,000. Global Financial Private Client LLC acquired a new position in Snowflake in the 1st quarter worth about $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake in the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Bank of America reduced their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Argus assumed coverage on Snowflake in a research note on Tuesday, October 1st. They set a “hold” rating for the company. Stifel Nicolaus cut their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Canaccord Genuity Group cut their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, TD Cowen cut their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $172.09.

Insider Buying and Selling at Snowflake

In related news, 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 value of $176,595.76. Following the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value 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 $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $125.92 on Friday. The firm has a market cap of $42.21 billion, a price-to-earnings ratio of -41.15 and a beta of 0.83. The firm has a 50 day simple moving average of $116.73 and a 200-day simple moving average of $128.68. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. Equities analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

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.