Mirae Asset Global Investments Co. Ltd. Has $11.81 Million Position in Snowflake Inc. $SNOW

Mirae Asset Global Investments Co. Ltd. raised its position in Snowflake Inc. (NYSE:SNOW) by 0.4% in the second quarter, HoldingsChannel.com reports. The fund owned 52,771 shares of the company’s stock after purchasing an additional 190 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Snowflake were worth $11,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the company. ASR Vermogensbeheer N.V. raised its position in shares of Snowflake by 4.7% in the second quarter. ASR Vermogensbeheer N.V. now owns 22,556 shares of the company’s stock valued at $5,047,000 after purchasing an additional 1,018 shares during the period. Vigilare Wealth Management bought a new position in shares of Snowflake in the second quarter valued at about $341,000. QTR Family Wealth LLC bought a new position in shares of Snowflake in the second quarter valued at about $263,000. Forza Wealth Management LLC bought a new position in shares of Snowflake in the second quarter valued at about $263,000. Finally, Victrix Investment Advisors raised its position in shares of Snowflake by 22.8% in the second quarter. Victrix Investment Advisors now owns 4,265 shares of the company’s stock valued at $954,000 after purchasing an additional 793 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, CAO Emily Ho sold 1,658 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total value of $373,464.50. Following the sale, the chief accounting officer directly owned 31,745 shares in the company, valued at approximately $7,150,561.25. This trade represents a 4.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the completion of the sale, the executive vice president owned 532,450 shares in the company, valued at approximately $119,204,906. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,601,630 shares of company stock worth $362,990,571 in the last quarter. Corporate insiders own 6.80% of the company’s stock.

Snowflake Trading Down 2.1%

Shares of Snowflake stock opened at $235.42 on Friday. The company has a market capitalization of $79.76 billion, a price-to-earnings ratio of -56.73 and a beta of 1.21. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12-month low of $111.15 and a 12-month high of $249.99. The firm’s 50-day moving average price is $215.94 and its two-hundred day moving average price is $195.89.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company posted $0.18 EPS. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNOW has been the topic of several research analyst reports. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday, August 28th. Citigroup reissued an “outperform” rating on shares of Snowflake in a research report on Thursday, August 28th. Evercore ISI increased their price objective on shares of Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Sanford C. Bernstein increased their price objective on shares of Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Finally, Monness Crespi & Hardt raised their price target on shares of Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $255.53.

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.