Assenagon Asset Management S.A. Has $35.66 Million Stock Position in Snowflake Inc. $SNOW

Assenagon Asset Management S.A. lowered its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 18.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 158,090 shares of the company’s stock after selling 36,877 shares during the period. Assenagon Asset Management S.A.’s holdings in Snowflake were worth $35,657,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SNOW. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Snowflake during the second quarter worth $6,845,000. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake during the 2nd quarter worth about $3,900,134,000. Bank of Hawaii bought a new position in shares of Snowflake in the 1st quarter worth about $1,019,000. Goldstream Capital Management Ltd bought a new position in shares of Snowflake in the 2nd quarter worth about $3,801,000. Finally, Vanguard Group Inc. lifted its stake in shares of Snowflake by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock valued at $6,218,515,000 after purchasing an additional 595,553 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 2.5%

Shares of NYSE SNOW opened at $221.59 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50-day moving average price of $248.14 and a 200-day moving average price of $227.58. The stock has a market capitalization of $75.83 billion, a P/E ratio of -54.85 and a beta of 1.09. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. On average, equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Barclays boosted their target price on shares of Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Stifel Nicolaus raised their price target on shares of Snowflake from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Finally, Citigroup decreased their price target on shares of Snowflake from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $275.32.

Insider Buying and Selling

In related news, Director Frank Slootman sold 7,728 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $212.45, for a total transaction of $1,641,813.60. Following the completion of the sale, the director owned 140,945 shares in the company, valued at approximately $29,943,765.25. This represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 221,537 shares of company stock worth $53,336,395 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

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.