MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Holdings in Snowflake Inc. $SNOW

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Snowflake Inc. by 115.3% in Q1, owning approximately 0.08% of the company valued at $37.3 million.
• Goldman Sachs Group Inc. raised its stake in Snowflake by 22.2%, now owning 3.6 million shares worth around $524 million after acquiring additional shares.
• Shares of Snowflake are currently trading around $225.47, with a 52-week range between $107.13 and $249.99, while the company reported an earnings beat with $0.35 EPS against a consensus estimate of $0.27.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 115.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 255,169 shares of the company's stock after acquiring an additional 136,658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.08% of Snowflake worth $37,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after acquiring an additional 650,775 shares during the period. CenterBook Partners LP acquired a new position in shares of Snowflake during the 1st quarter worth approximately $2,381,000. Berkshire Capital Holdings Inc. raised its position in shares of Snowflake by 71,500.0% during the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock worth $1,047,000 after purchasing an additional 7,150 shares during the last quarter. Lyell Wealth Management LP raised its position in shares of Snowflake by 5.1% during the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company's stock worth $8,870,000 after purchasing an additional 2,955 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Snowflake during the 1st quarter worth approximately $898,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the sale, the executive vice president owned 527,336 shares of the company's stock, valued at approximately $123,132,956. This trade represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $84,102.07. Following the completion of the sale, the director directly owned 26,136 shares in the company, valued at approximately $5,454,321.84. This trade represents a 1.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,176,168 shares of company stock worth $708,898,070 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SNOW. Oppenheimer lifted their price objective on Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Rosenblatt Securities raised their target price on shares of Snowflake from $210.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. HSBC lowered shares of Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Raymond James Financial upped their price target on shares of Snowflake from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Finally, Truist Financial upped their price target on shares of Snowflake from $235.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $255.53.

Snowflake Stock Up 1.6%

Shares of NYSE:SNOW opened at $225.47 on Friday. The company has a 50 day moving average of $212.34 and a two-hundred day moving average of $187.29. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $249.99. The company has a market capitalization of $75.28 billion, a price-to-earnings ratio of -54.33 and a beta of 1.22. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 41.42% and a negative net margin of 33.53%.The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company posted $0.18 EPS. Snowflake's quarterly revenue was up 31.8% on a year-over-year basis. As a group, analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal 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.

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