98,304 Shares of Snowflake Inc. $SNOW Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 98,304 Snowflake shares worth approximately $33.38 million in the third quarter. Institutional investors collectively own 65.10% of Snowflake.
• Snowflake reported quarterly revenue of $1.55 billion, up 35.1% year over year, and EPS of $0.62, beating analysts’ estimates of $0.45. However, the company posted a negative net margin and analysts expect a full-year loss.
• Wall Street maintains a “Moderate Buy” consensus, with 36 Buy ratings and an average price target of $413.87, while insiders sold more than $396.8 million worth of shares over the past 90 days.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 98,304 shares of the company's stock, valued at approximately $33,380,000.

Several other institutional investors and hedge funds have also bought and sold shares of SNOW. Basecamp Wealth Advisors LLC raised its holdings in Snowflake by 140.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company's stock worth $30,000 after purchasing an additional 118 shares in the last quarter. Emerald Advisers LLC boosted its stake in shares of Snowflake by 95.2% during the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company's stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Reyes Financial Architecture Inc. bought a new stake in shares of Snowflake during the 3rd quarter valued at about $32,000. Mather Group LLC. increased its position in shares of Snowflake by 98.0% during the third quarter. Mather Group LLC. now owns 101 shares of the company's stock valued at $34,000 after buying an additional 50 shares during the period. Finally, Ninety One UK Ltd purchased a new position in shares of Snowflake during the third quarter valued at about $36,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Trading Down 0.4%

Shares of NYSE:SNOW opened at $304.86 on Monday. The stock's 50-day simple moving average is $331.88 and its two-hundred day simple moving average is $239.75. The stock has a market capitalization of $107.55 billion, a price-to-earnings ratio of -95.87 and a beta of 1.32. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $384.56. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period last year, the firm earned $0.35 EPS. Snowflake's revenue for the quarter was up 35.1% compared to the same quarter last year. Analysts expect that Snowflake Inc. will post -1.42 EPS for the current year.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. Citigroup upped their target price on shares of Snowflake from $395.00 to $490.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. TD Cowen lifted their price target on shares of Snowflake from $370.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Argus boosted their price objective on shares of Snowflake from $300.00 to $450.00 and gave the stock a "buy" rating in a research note on Friday, September 4th. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Snowflake in a report on Thursday, September 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Snowflake from $300.00 to $436.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Thirty-six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $413.87.

Insider Activity at Snowflake

In related news, Director Mark Garrett sold 50,000 shares of the business's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $350.00, for a total value of $17,500,000.00. Following the sale, the director directly owned 10,074 shares in the company, valued at approximately $3,525,900. The trade was a 83.23% 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. Also, Director Frank Slootman sold 300,000 shares of the stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $316.43, for a total value of $94,929,000.00. Following the transaction, the director owned 19,024 shares of the company's stock, valued at $6,019,764.32. This represents a 94.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,206,443 shares of company stock valued at $396,866,828. Insiders own 4.80% of the company's stock.

Snowflake Profile

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.

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