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

Assenagon Asset Management S.A. increased its stake in Snowflake Inc. (NYSE:SNOW) by 96.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,045,409 shares of the company’s stock after acquiring an additional 513,214 shares during the quarter. Assenagon Asset Management S.A. owned about 0.31% of Snowflake worth $120,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Comerica Bank boosted its stake in shares of Snowflake by 17.2% in the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares during the last quarter. Choreo LLC grew its stake in shares of Snowflake by 18.6% in the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock valued at $1,336,000 after buying an additional 1,294 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Snowflake by 23.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after acquiring an additional 43,062 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after purchasing an additional 42,563 shares during the period. Finally, LRI Investments LLC acquired a new stake in Snowflake in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 287 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Wednesday, October 2nd. DA Davidson reiterated a “buy” rating and set a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd. Wedbush raised Snowflake to a “hold” rating in a research note on Thursday, October 17th. Wells Fargo & Company decreased their price target on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, TD Cowen dropped their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Two 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Snowflake Trading Up 0.6 %

Shares of Snowflake stock traded up $0.69 on Thursday, hitting $114.30. 1,649,747 shares of the company traded hands, compared to its average volume of 6,581,020. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The firm’s 50-day simple moving average is $116.08 and its 200 day simple moving average is $132.39. The company has a market cap of $38.31 billion, a P/E ratio of -37.43 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same quarter last year, the business posted ($0.52) earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. Analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current year.

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, as well as applies artificial intelligence (AI) for solving business problems.