Versor Investments LP Makes New Investment in Snowflake Inc. $SNOW

Versor Investments LP bought a new position in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 894 shares of the company’s stock, valued at approximately $200,000.

Several other institutional investors also recently modified their holdings of SNOW. Kingstone Capital Partners Texas LLC bought a new stake in Snowflake during the second quarter worth $3,900,134,000. Nuveen LLC purchased a new stake in shares of Snowflake during the 1st quarter valued at $555,847,000. AQR Capital Management LLC increased its position in shares of Snowflake by 346.2% during the 1st 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 during the last quarter. Jennison Associates LLC raised its stake in shares of Snowflake by 20.5% during the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after purchasing an additional 1,363,389 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Snowflake by 19.2% in the 1st 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 during the last quarter. 65.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Bank of America upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $220.00 to $240.00 in a report on Wednesday, August 20th. Royal Bank Of Canada increased their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. JMP Securities lifted their price target on shares of Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Canaccord Genuity Group increased their price objective on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, DA Davidson reissued a “buy” rating and issued a $250.00 target price on shares of Snowflake in a research report on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $258.95.

Snowflake Trading Down 0.8%

NYSE:SNOW opened at $262.72 on Friday. Snowflake Inc. has a 1 year low of $119.66 and a 1 year high of $280.67. The stock’s fifty day moving average price is $240.55 and its two-hundred day moving average price is $214.54. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $89.01 billion, a P/E ratio of -63.31 and a beta of 1.23.

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

Insider Activity

In other news, CAO Emily Ho sold 1,658 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total transaction of $373,464.50. Following the completion of the transaction, the chief accounting officer directly owned 31,745 shares in the company, valued at $7,150,561.25. The trade was a 4.96% 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 10,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the sale, the executive vice president owned 522,450 shares in the company, valued at $145,100,038.50. This trade represents a 1.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 880,647 shares of company stock valued at $203,522,973. Corporate insiders own 6.80% of the company’s stock.

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.