Napean Trading & Investment Co Singapore PTE Ltd grew its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,124 shares of the company's stock after purchasing an additional 2,081 shares during the quarter. Snowflake makes up about 1.9% of Napean Trading & Investment Co Singapore PTE Ltd's investment portfolio, making the stock its 18th largest holding. Napean Trading & Investment Co Singapore PTE Ltd's holdings in Snowflake were worth $6,595,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock worth $3,974,705,000 after buying an additional 316,573 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock worth $691,693,000 after buying an additional 763,673 shares in the last quarter. Nuveen LLC purchased a new position in shares of Snowflake in the first quarter worth $555,847,000. Goldman Sachs Group Inc. lifted its holdings in shares of Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after buying an additional 650,775 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company's stock valued at $456,430,000 after purchasing an additional 2,460,769 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.
Snowflake Trading Up 1.6%
Shares of SNOW traded up $3.57 during midday trading on Friday, hitting $225.47. The stock had a trading volume of 5,885,231 shares, compared to its average volume of 7,631,951. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $249.99. The firm has a market cap of $75.28 billion, a PE ratio of -54.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The stock's 50 day moving average is $212.34 and its 200 day moving average is $187.29.
Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 41.42%. The business's revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. KeyCorp upped their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Piper Sandler upped their price target on shares of Snowflake from $215.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Cantor Fitzgerald upped their price target on shares of Snowflake from $242.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Cowen reaffirmed a "buy" rating on shares of Snowflake in a research note on Thursday, August 28th. Finally, Oppenheimer upped their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned 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 company currently has an average rating of "Moderate Buy" and an average target price of $255.53.
View Our Latest Research Report on SNOW
Insider Activity at Snowflake
In other news, Director Frank Slootman sold 710,083 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the transaction, the director directly owned 165,507 shares in the company, valued at approximately $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 3,176,168 shares of company stock valued at $708,898,070 in the last quarter. Corporate insiders own 6.80% of the company's stock.
Snowflake Profile
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Free Report)
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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