National Pension Service Has $67.95 Million Stake in Snowflake Inc. (NYSE:SNOW)

National Pension Service raised its holdings in Snowflake Inc. (NYSE:SNOW) by 6.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 591,627 shares of the company’s stock after buying an additional 36,010 shares during the quarter. National Pension Service owned 0.18% of Snowflake worth $67,954,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in shares of Snowflake during the first quarter valued at approximately $258,957,000. AQR Capital Management LLC raised its stake in shares of Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after buying an additional 660,168 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Snowflake by 471.9% during the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after acquiring an additional 628,511 shares during the period. Daiwa Securities Group Inc. raised its position in Snowflake by 90.3% in the second 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. Finally, International Assets Investment Management LLC boosted its stake in Snowflake by 12,318.3% in the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after buying an additional 526,608 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Price Performance

Shares of Snowflake stock opened at $116.44 on Wednesday. The firm has a market cap of $39.03 billion, a price-to-earnings ratio of -38.05 and a beta of 0.83. The stock’s 50-day moving average is $114.61 and its 200-day moving average is $130.14. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

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

Analyst Ratings Changes

Several brokerages recently issued reports on SNOW. Barclays cut their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Canaccord Genuity Group reduced their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Bank of America dropped 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. Jefferies Financial Group decreased their target price on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Argus initiated coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. Two 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.74.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the transaction, the executive vice president now owns 721,755 shares in the company, valued at $86,610,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Benoit Dageville sold 1,946 shares of Snowflake 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 completion of the transaction, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares in the company, valued at approximately $86,610,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,538 shares of company stock valued at $5,249,994. Corporate insiders own 7.80% of the company’s stock.

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.