Snowflake Inc. (NYSE:SNOW) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 49.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 420,088 shares of the company's stock after purchasing an additional 139,459 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of Snowflake worth $48,251,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. American Assets Inc. purchased a new stake in Snowflake in the 3rd quarter worth about $459,000. Aigen Investment Management LP purchased a new position in shares of Snowflake in the third quarter worth about $838,000. Ashton Thomas Private Wealth LLC raised its position in shares of Snowflake by 19.5% in the third quarter. Ashton Thomas Private Wealth LLC now owns 11,307 shares of the company's stock valued at $1,299,000 after purchasing an additional 1,848 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Snowflake by 3.3% during the 3rd quarter. Rakuten Securities Inc. now owns 5,314 shares of the company's stock valued at $610,000 after buying an additional 169 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Snowflake by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 664,858 shares of the company's stock worth $76,366,000 after buying an additional 3,487 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SNOW. Canaccord Genuity Group dropped their target price on Snowflake from $215.00 to $190.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. KeyCorp dropped their price objective on Snowflake from $168.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. 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. Evercore ISI lowered their price target on shares of Snowflake from $225.00 to $170.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. Finally, Monness Crespi & Hardt raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $172.09.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 6,251 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $715,051.89. Following the transaction, the director now owns 208,735 shares of the company's stock, valued at $23,877,196.65. This represents a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,061,544 in the last quarter. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

Shares of NYSE:SNOW traded down $3.31 during trading on Friday, reaching $125.96. 5,737,745 shares of the stock traded hands, compared to its average volume of 6,476,276. The stock has a market cap of $42.22 billion, a P/E ratio of -41.16 and a beta of 0.83. The stock has a 50-day moving average of $116.73 and a two-hundred day moving average of $128.50. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW - Get Free Report) last posted its 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 company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same quarter in the prior year, the company earned ($0.52) earnings per share. Snowflake's revenue was up 28.9% on a year-over-year basis. Sell-side analysts expect 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.