Snowflake Inc. (NYSE:SNOW) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,394 shares of the company’s stock after purchasing an additional 7,823 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Snowflake were worth $22,395,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SNOW. Cary Street Partners Investment Advisory LLC grew its stake in Snowflake by 1,431.8% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,302 shares of the company’s stock worth $229,000 after acquiring an additional 1,217 shares during the period. Keystone Investors PTE Ltd. purchased a new stake in Snowflake in the 2nd quarter worth approximately $15,408,000. US Bancorp DE grew its stake in Snowflake by 3.5% in the 2nd quarter. US Bancorp DE now owns 34,219 shares of the company’s stock worth $6,022,000 after acquiring an additional 1,173 shares during the period. Private Advisor Group LLC grew its stake in Snowflake by 30.1% in the 2nd quarter. Private Advisor Group LLC now owns 12,020 shares of the company’s stock worth $2,118,000 after acquiring an additional 2,778 shares during the period. Finally, Cetera Advisors LLC grew its stake in Snowflake by 1.2% in the 2nd quarter. Cetera Advisors LLC now owns 12,737 shares of the company’s stock worth $2,241,000 after acquiring an additional 148 shares during the period. 63.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SNOW shares. Capital One Financial raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $195.00 price objective for the company in a research note on Wednesday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $216.00 price objective on shares of Snowflake in a research note on Tuesday, September 5th. Bank of America started coverage on shares of Snowflake in a research note on Thursday, October 12th. They set a “neutral” rating and a $195.00 price objective for the company. Oppenheimer reissued an “outperform” rating and set a $220.00 price objective on shares of Snowflake in a research note on Thursday, August 24th. Finally, Mizuho reaffirmed a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $189.52.

Snowflake Stock Up 3.1 %

NYSE:SNOW opened at $166.85 on Tuesday. The stock has a fifty day simple moving average of $154.74 and a 200 day simple moving average of $163.47. The firm has a market capitalization of $55.01 billion, a price-to-earnings ratio of -62.73 and a beta of 0.77. Snowflake Inc. has a 1-year low of $119.27 and a 1-year high of $193.94.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.12. The firm had revenue of $674.00 million during the quarter, compared to the consensus estimate of $662.22 million. Snowflake had a negative return on equity of 14.07% and a negative net margin of 35.22%. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.67) EPS. Equities analysts predict that Snowflake Inc. will post -1.62 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Grzegorz Czajkowski sold 694 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $166.27, for a total transaction of $115,391.38. Following the completion of the sale, the senior vice president now directly owns 54,701 shares of the company’s stock, valued at approximately $9,095,135.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Grzegorz Czajkowski sold 694 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $166.27, for a total value of $115,391.38. Following the transaction, the senior vice president now directly owns 54,701 shares of the company’s stock, valued at approximately $9,095,135.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank Slootman sold 8,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $154.50, for a total value of $1,287,603.00. Following the completion of the transaction, the chief executive officer now directly owns 185,683 shares in the company, valued at $28,688,023.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,446 shares of company stock valued at $14,733,361. Corporate insiders own 8.30% of the company’s stock.

Snowflake Company 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.