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

Assenagon Asset Management S.A. cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 18.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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.

A number of other institutional investors also recently made changes to their positions in SNOW. Vanguard Group Inc. increased its stake in shares of Snowflake by 2.2% during the second quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock worth $6,218,515,000 after purchasing an additional 595,553 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Snowflake during the 2nd quarter worth $3,900,134,000. Jennison Associates LLC increased its position in Snowflake by 20.5% during the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after buying an additional 1,363,389 shares during the period. State Street Corp lifted its holdings in shares of Snowflake by 1.4% during the second quarter. State Street Corp now owns 6,887,073 shares of the company’s stock worth $1,541,120,000 after buying an additional 94,293 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of Snowflake by 15.2% in the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock valued at $1,108,045,000 after acquiring an additional 652,485 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 7,728 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $212.45, for a total value of $1,641,813.60. Following the sale, the director owned 140,945 shares in the company, valued at $29,943,765.25. This trade represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $230.65, for a total transaction of $92,951.95. Following the transaction, the director owned 24,524 shares of the company’s stock, valued at $5,656,460.60. This trade represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 221,537 shares of company stock worth $53,336,395. Corporate insiders own 6.80% of the company’s stock.

Snowflake Trading Up 2.5%

Shares of SNOW opened at $221.59 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The firm has a market cap of $75.83 billion, a price-to-earnings ratio of -54.85 and a beta of 1.09. The business’s fifty day moving average is $248.14 and its 200-day moving average is $227.58.

Snowflake (NYSE:SNOW) last released its quarterly earnings data 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. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm posted $0.20 earnings per share. Snowflake’s revenue was up 28.7% compared to the same quarter last year. Equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Snowflake in a research report on Thursday, December 4th. Rosenblatt Securities raised their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Jefferies Financial Group set a $300.00 price target on shares of Snowflake in a research report on Monday, November 24th. DA Davidson reissued a “buy” rating and set a $300.00 price target on shares of Snowflake in a research report on Monday, December 1st. Finally, Bank of America lifted their price objective on Snowflake from $280.00 to $310.00 and gave the company a “buy” rating in a report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.32.

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.