Profund Advisors LLC Sells 6,112 Shares of Snowflake Inc. $SNOW

Profund Advisors LLC decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 31.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,130 shares of the company’s stock after selling 6,112 shares during the period. Profund Advisors LLC’s holdings in Snowflake were worth $2,938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock valued at $524,293,000 after purchasing an additional 650,775 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of Snowflake during the first quarter worth $2,381,000. Berkshire Capital Holdings Inc. lifted its stake in shares of Snowflake by 71,500.0% in the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock valued at $1,047,000 after acquiring an additional 7,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Snowflake during the 2nd quarter valued at $6,845,000. Finally, Lyell Wealth Management LP grew its position in Snowflake by 5.1% during the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock worth $8,870,000 after acquiring an additional 2,955 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Performance

Shares of SNOW stock opened at $262.72 on Monday. The firm has a market capitalization of $89.01 billion, a PE ratio of -63.31 and a beta of 1.23. The firm has a fifty day simple moving average of $240.55 and a two-hundred day simple moving average of $215.54. Snowflake Inc. has a 12 month low of $119.66 and a 12 month high of $280.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

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

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their price target on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 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. Cowen reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Stephens started coverage on shares of Snowflake in a research note on Friday, July 18th. They set an “overweight” rating and a $261.00 target price for the company. Finally, Raymond James Financial upped their target price on Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $258.95.

Insider Activity

In other news, Director Michael L. Speiser sold 2,976 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $236.01, for a total value of $702,365.76. Following the transaction, the director owned 34,436 shares in the company, valued at $8,127,240.36. The trade was a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the sale, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 880,647 shares of company stock worth $203,522,973. Company 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.