Walleye Capital LLC Boosts Stake in Snowflake Inc. (NYSE:SNOW)

Walleye Capital LLC increased its position in Snowflake Inc. (NYSE:SNOWGet Rating) by 30.2% in the 1st quarter, Holdings Channel reports. The firm owned 6,189 shares of the company’s stock after buying an additional 1,437 shares during the period. Walleye Capital LLC’s holdings in Snowflake were worth $1,418,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SC US Ttgp LTD. lifted its holdings in shares of Snowflake by 13.5% in the 1st quarter. SC US Ttgp LTD. now owns 13,709,218 shares of the company’s stock valued at $3,141,193,000 after purchasing an additional 1,634,929 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Snowflake by 18.2% in the 1st quarter. BlackRock Inc. now owns 11,379,286 shares of the company’s stock valued at $2,607,336,000 after purchasing an additional 1,751,250 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Snowflake by 4.5% in the 1st quarter. Capital Research Global Investors now owns 7,122,568 shares of the company’s stock valued at $1,632,004,000 after purchasing an additional 306,258 shares during the last quarter. Tiger Global Management LLC lifted its holdings in shares of Snowflake by 13.6% in the 1st quarter. Tiger Global Management LLC now owns 6,841,769 shares of the company’s stock valued at $1,567,655,000 after purchasing an additional 821,100 shares during the last quarter. Finally, Sands Capital Management LLC raised its stake in Snowflake by 24.2% during the 1st quarter. Sands Capital Management LLC now owns 5,367,215 shares of the company’s stock valued at $1,229,790,000 after acquiring an additional 1,047,041 shares during the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $184.67 on Friday. The business’s fifty day moving average price is $165.07 and its two-hundred day moving average price is $168.38. The stock has a market cap of $59.09 billion, a PE ratio of -85.10 and a beta of 1.05. Snowflake Inc. has a one year low of $110.26 and a one year high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last announced its earnings results on Wednesday, August 24th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.16). Snowflake had a negative net margin of 41.25% and a negative return on equity of 12.57%. The company had revenue of $497.25 million for the quarter, compared to analyst estimates of $466.03 million. As a group, equities research analysts predict that Snowflake Inc. will post -2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on SNOW. Guggenheim began coverage on Snowflake in a research note on Friday, August 12th. They set a “sell” rating and a $125.00 price objective for the company. Jefferies Financial Group raised Snowflake from a “hold” rating to a “buy” rating and upped their price objective for the company from $125.00 to $200.00 in a research note on Tuesday, June 28th. JPMorgan Chase & Co. upped their price objective on Snowflake from $165.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, August 25th. Barclays reduced their price objective on Snowflake from $210.00 to $207.00 and set an “overweight” rating for the company in a research note on Thursday, August 25th. Finally, Rosenblatt Securities reduced their price objective on Snowflake from $255.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.94.

Insider Transactions at Snowflake

In other news, CEO Frank Slootman sold 1,651 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $299,012.61. Following the sale, the chief executive officer now owns 135,781 shares in the company, valued at $24,591,296.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $131,123.64. Following the sale, the insider now owns 15,512 shares in the company, valued at $2,809,378.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank Slootman sold 1,651 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $299,012.61. Following the completion of the transaction, the chief executive officer now directly owns 135,781 shares in the company, valued at $24,591,296.91. The disclosure for this sale can be found here. Insiders have sold 4,823 shares of company stock worth $859,968 over the last quarter. 8.90% of the stock is currently owned by insiders.

Snowflake Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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