Quantbot Technologies LP Raises Stake in Snowflake Inc. $SNOW

Key Points

• Quantbot Technologies LP increased its stake in Snowflake Inc. by 17.3%, owning 56,134 shares worth approximately $8.2 million following the acquisition of an additional 8,273 shares.
• Snowflake's stock saw a 2.2% increase, with a current market price of $199.11, while the company reported earnings of $0.24 per share, exceeding analysts' expectations.
• Insider transactions included Director Michael L. Speiser selling 403 shares and EVP Christian Kleinerman offloading 10,000 shares, reflecting a decrease in their ownerships.

Quantbot Technologies LP raised its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 17.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,134 shares of the company's stock after acquiring an additional 8,273 shares during the quarter. Quantbot Technologies LP's holdings in Snowflake were worth $8,205,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake during the 1st quarter worth approximately $26,000. CVA Family Office LLC lifted its position in shares of Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the last quarter. West Paces Advisors Inc. purchased a new stake in shares of Snowflake during the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake during the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Stock Up 2.2%

SNOW opened at $199.11 on Monday. The firm has a 50 day moving average price of $212.50 and a 200 day moving average price of $184.56. The company has a market cap of $66.47 billion, a PE ratio of -47.29 and a beta of 1.22. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $229.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company's revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. Sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated 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 owned 26,136 shares in the company, valued at approximately $5,454,321.84. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $216.00, for a total value of $2,160,000.00. Following the completion of the sale, the executive vice president owned 537,336 shares of the company's stock, valued at approximately $116,064,576. This trade represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,014,642 shares of company stock worth $657,325,186 in the last ninety days. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research reports. Cowen restated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Citigroup restated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Scotiabank restated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. HSBC downgraded Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Bank of America raised their price target on Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $226.32.

About Snowflake

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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