Assenagon Asset Management S.A. Has $80.67 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Assenagon Asset Management S.A. grew its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 277.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 551,894 shares of the company's stock after purchasing an additional 405,588 shares during the quarter. Assenagon Asset Management S.A. owned about 0.17% of Snowflake worth $80,665,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP lifted its stake in Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after purchasing an additional 59 shares during the period. Gabelli Funds LLC lifted its stake in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after purchasing an additional 65 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock worth $2,077,000 after purchasing an additional 69 shares during the period. Larson Financial Group LLC lifted its stake in Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company's stock worth $64,000 after purchasing an additional 74 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its stake in Snowflake by 3.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company's stock worth $406,000 after purchasing an additional 77 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 3,765 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $586,172.85. Following the transaction, the executive vice president now owns 616,602 shares in the company, valued at $95,998,765.38. This represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 900,459 shares of company stock valued at $170,184,739 in the last three months. 6.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SNOW has been the subject of a number of research analyst reports. DA Davidson reiterated a "buy" rating and issued a $250.00 target price on shares of Snowflake in a research note on Wednesday, June 4th. UBS Group upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and lifted their target price for the company from $210.00 to $265.00 in a research note on Wednesday, June 4th. HSBC cut shares of Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Morgan Stanley reiterated an "equal weight" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Truist Financial upped their target price on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $222.81.

Snowflake Stock Up 1.1%

SNOW traded up $2.27 during trading on Thursday, hitting $210.88. The company had a trading volume of 5,136,609 shares, compared to its average volume of 6,279,646. The company has a market capitalization of $70.41 billion, a PE ratio of -62.21 and a beta of 1.21. Snowflake Inc. has a one year low of $107.13 and a one year high of $214.83. The firm's 50-day moving average price is $173.43 and its 200 day moving average price is $170.25. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.14 EPS. The company's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.