International Assets Investment Management LLC Buys 526,608 Shares of Snowflake Inc. (NYSE:SNOW)

International Assets Investment Management LLC lifted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 12,318.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 530,883 shares of the company's stock after purchasing an additional 526,608 shares during the period. International Assets Investment Management LLC owned 0.16% of Snowflake worth $60,977,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SNOW. LRI Investments LLC acquired a new stake in Snowflake in the 1st quarter worth $29,000. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake during the second quarter worth $27,000. V Square Quantitative Management LLC acquired a new stake in Snowflake in the 3rd quarter valued at about $30,000. Global Financial Private Client LLC acquired a new stake in shares of Snowflake in the first quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now owns 718,773 shares in the company, valued at approximately $86,252,760. 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 accessible through this link. Also, Director Frank Slootman sold 1,606 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares of the company's stock, valued at $23,998,330.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,049,994 in the last ninety days. 7.80% of the stock is owned by company insiders.

Snowflake Stock Up 1.0 %

Shares of SNOW traded up $1.12 during trading hours on Friday, hitting $116.04. The company had a trading volume of 2,718,781 shares, compared to its average volume of 6,568,331. The business has a fifty day moving average of $115.59 and a 200-day moving average of $131.68. The firm has a market cap of $38.85 billion, a price-to-earnings ratio of -41.44 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly 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 firm had revenue of $868.80 million for the quarter, compared to analysts' expectations of $851.72 million. During the same period in the prior year, the firm earned ($0.52) EPS. The business's revenue was up 28.9% on a year-over-year basis. On average, equities analysts expect that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on Snowflake from $130.00 to $125.00 and set an "equal weight" rating for the company in a research report on Thursday, August 22nd. Canaccord Genuity Group cut their target price on shares of Snowflake from $215.00 to $190.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Barclays lowered their price target on shares of Snowflake from $191.00 to $146.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. TD Cowen reduced their price objective on shares of Snowflake from $230.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday, August 19th. Finally, Robert W. Baird dropped their target price on shares of Snowflake from $200.00 to $165.00 and set an "outperform" rating for the company in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and a consensus price target of $174.74.

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.