Assenagon Asset Management S.A. Has $120.08 Million Position in Snowflake Inc. (NYSE:SNOW)

Assenagon Asset Management S.A. boosted its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 96.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,045,409 shares of the company's stock after purchasing an additional 513,214 shares during the period. Assenagon Asset Management S.A. owned approximately 0.31% of Snowflake worth $120,076,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SNOW. Swedbank AB acquired a new stake in Snowflake in the first quarter worth approximately $258,957,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Snowflake during the 1st quarter valued at $171,608,000. AQR Capital Management LLC lifted its position in shares of Snowflake by 210.0% during the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company's stock valued at $131,656,000 after acquiring an additional 660,168 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Snowflake by 471.9% during the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company's stock valued at $87,489,000 after acquiring an additional 628,511 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Snowflake by 90.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company's stock valued at $170,938,000 after acquiring an additional 600,469 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNOW has been the subject of a number of recent research reports. Argus initiated coverage on Snowflake in a research report on Tuesday, October 1st. They set a "hold" rating for the company. Citigroup cut their price objective on Snowflake from $236.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, August 20th. DA Davidson reiterated a "buy" rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Stifel Nicolaus reduced their target price on Snowflake from $200.00 to $168.00 and set a "buy" rating for the company in a report on Monday, August 19th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $174.74.

Snowflake Stock Up 1.2 %

SNOW stock traded up $1.31 during mid-day trading on Thursday, reaching $114.92. 2,808,379 shares of the stock traded hands, compared to its average volume of 6,587,036. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The business has a 50-day moving average of $116.08 and a two-hundred day moving average of $132.39. The firm has a market capitalization of $38.52 billion, a PE ratio of -37.43 and a beta of 0.83.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million during the quarter, compared to analysts' expectations of $851.72 million. During the same quarter last year, the company earned ($0.52) earnings per share. The firm's revenue was up 28.9% on a year-over-year basis. On average, equities research analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the firm's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the executive vice president now owns 721,755 shares in the company, valued at $86,610,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benoit Dageville sold 287 shares of the firm'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 transaction, the insider now owns 53,250 shares of the company's stock, valued at approximately $5,932,582.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,538 shares of company stock worth $7,049,994. Company insiders own 7.80% 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.