1,960 Snowflake Inc. $SNOW Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 0.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 236,960 shares of the company’s stock after acquiring an additional 1,960 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Snowflake were worth $80,462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners grew its position in shares of Snowflake by 15.2% during the 2nd quarter. Silicon Valley Capital Partners now owns 62,087 shares of the company’s stock worth $15,801,000 after buying an additional 8,208 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Snowflake in the 2nd quarter worth approximately $1,399,000. Swiss National Bank grew its holdings in shares of Snowflake by 7.1% during the first quarter. Swiss National Bank now owns 944,600 shares of the company’s stock valued at $142,465,000 after buying an additional 62,600 shares during the last quarter. National Pension Service grew its holdings in shares of Snowflake by 3.3% during the second quarter. National Pension Service now owns 690,349 shares of the company’s stock valued at $175,694,000 after buying an additional 21,915 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its holdings in shares of Snowflake by 439.9% during the second quarter. Ameritas Advisory Services LLC now owns 7,181 shares of the company’s stock valued at $1,828,000 after buying an additional 5,851 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $306.01, for a total value of $3,060,100.00. Following the sale, the executive vice president owned 303,738 shares in the company, valued at $92,946,865.38. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 300,000 shares of the firm’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $316.43, for a total value of $94,929,000.00. Following the sale, the director directly owned 19,024 shares in the company, valued at approximately $6,019,764.32. This trade represents a 94.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,186,443 shares of company stock valued at $387,734,752 over the last quarter. 4.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research reports. Yorkville Ives initiated coverage on Snowflake in a research report on Monday, October 5th. They issued an “outperform” rating and a $400.00 target price on the stock. Monness Crespi & Hardt lifted their price target on Snowflake from $380.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Snowflake in a research note on Tuesday, September 8th. Deutsche Bank set a $400.00 price objective on Snowflake in a report on Thursday, September 3rd. Finally, Scotiabank restated a “sector outperform” rating and issued a $440.00 price objective (up from $320.00) on shares of Snowflake in a research note on Thursday, September 3rd. Thirty-six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $413.87.

Snowflake Stock Performance

Shares of NYSE:SNOW traded down $8.09 during midday trading on Friday, reaching $290.61. The company’s stock had a trading volume of 2,931,762 shares, compared to its average volume of 4,594,023. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. The stock has a fifty day moving average of $324.69 and a 200 day moving average of $243.79. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $384.56. The firm has a market capitalization of $102.53 billion, a PE ratio of -91.39 and a beta of 1.32.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. On average, equities analysts expect that Snowflake Inc. will post -1.42 EPS for the current fiscal year.

Snowflake Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.