Penserra Capital Management LLC Raises Holdings in Snowflake Inc. (NYSE:SNOW)

Penserra Capital Management LLC lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,063 shares of the company's stock after purchasing an additional 29,812 shares during the period. Penserra Capital Management LLC's holdings in Snowflake were worth $16,815,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Snowflake in the fourth quarter valued at about $988,950,000. FMR LLC boosted its holdings in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. GQG Partners LLC acquired a new stake in Snowflake during the 4th quarter valued at approximately $750,572,000. Geode Capital Management LLC raised its holdings in Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after purchasing an additional 15,314 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after purchasing an additional 2,200,406 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Up 0.4%

Shares of SNOW traded up $0.99 during trading hours on Monday, reaching $222.48. 1,023,731 shares of the stock traded hands, compared to its average volume of 6,036,658. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $225.68. The company has a market cap of $74.28 billion, a price-to-earnings ratio of -52.88 and a beta of 1.22. The stock has a fifty day simple moving average of $197.86 and a 200 day simple moving average of $175.27. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.14 EPS. The company's revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In related news, Director Jeremy Burton sold 19,111 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $220.80, for a total transaction of $4,219,708.80. Following the completion of the transaction, the director owned 3,987 shares in the company, valued at approximately $880,329.60. This represents a 82.74% 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 firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the sale, the executive vice president owned 547,336 shares of the company's stock, valued at $119,806,377.04. This trade represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,876,557 shares of company stock valued at $403,565,119 in the last ninety days. Insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent analyst reports. BTIG Research reiterated a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Daiwa America upgraded Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. CICC Research started coverage on Snowflake in a research report on Friday, June 20th. They set an "outperform" rating and a $225.00 target price on the stock. Finally, Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake 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.