Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,479 shares of the company's stock after purchasing an additional 4,634 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Snowflake were worth $9,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. 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 report on Monday, August 19th. Hsbc Global Res raised shares of Snowflake from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 23rd. Wedbush raised Snowflake to a "hold" rating in a report on Thursday, October 17th. Wells Fargo & Company reduced their price objective 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. Finally, Needham & Company LLC dropped their target price on Snowflake from $210.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Two 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 company's stock. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $174.74.

Snowflake Price Performance

NYSE:SNOW traded up $1.19 during midday trading on Monday, hitting $117.23. The company's stock had a trading volume of 5,236,193 shares, compared to its average volume of 6,561,958. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm has a market cap of $39.30 billion, a P/E ratio of -38.31 and a beta of 0.83. The firm's 50 day moving average is $115.31 and its 200-day moving average is $131.39.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $851.72 million. During the same quarter in the prior year, the business earned ($0.52) earnings per share. The business's quarterly revenue was up 28.9% compared to the same quarter last year. As a group, analysts forecast that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Christian Kleinerman sold 30,000 shares of the company'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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,538 shares of company stock worth $7,049,994. Insiders own 7.80% of the company's stock.

Snowflake 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.