Assenagon Asset Management S.A. Acquires 513,214 Shares of Snowflake Inc. (NYSE:SNOW)

Assenagon Asset Management S.A. grew its holdings in Snowflake Inc. (NYSE:SNOW) by 96.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,045,409 shares of the company’s stock after buying an additional 513,214 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Snowflake were worth $120,076,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. LRI Investments LLC boosted its holdings in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake in the 2nd quarter worth about $27,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake during the third quarter valued at about $30,000. Riverview Trust Co bought a new position in Snowflake in the first quarter worth about $31,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Snowflake in the first quarter worth about $32,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 0.6 %

Snowflake stock traded up $0.69 during mid-day trading on Thursday, hitting $114.30. The company had a trading volume of 1,649,747 shares, compared to its average volume of 6,581,020. The company has a market capitalization of $38.31 billion, a price-to-earnings ratio of -37.43 and a beta of 0.83. The company’s fifty day moving average is $116.08 and its 200-day moving average is $132.39. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly 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. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.52) earnings per share. As a group, sell-side analysts expect that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the sale, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,049,994 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stifel Nicolaus decreased their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. DA Davidson reissued a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Wedbush raised shares of Snowflake to a “hold” rating in a research report on Thursday, October 17th. Robert W. Baird decreased their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Finally, HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $119.00 to $121.00 in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $174.74.

About Snowflake

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.