Snowflake Inc. (NYSE:SNOW) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 65.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,747 shares of the company’s stock after purchasing an additional 112,316 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Snowflake worth $45,893,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Accent Capital Management LLC acquired a new position in Snowflake during the fourth quarter worth $25,000. Riverview Trust Co purchased a new stake in shares of Snowflake in the first quarter valued at about $31,000. Hartford Financial Management Inc. acquired a new stake in Snowflake during the first quarter worth about $32,000. Future Financial Wealth Managment LLC purchased a new position in Snowflake during the first quarter worth about $32,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after purchasing an additional 128 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Up 0.1 %

Snowflake stock traded up $0.16 during mid-day trading on Friday, hitting $143.02. The company had a trading volume of 6,164,583 shares, compared to its average volume of 7,293,981. The stock has a market cap of $47.88 billion, a price-to-earnings ratio of -51.09 and a beta of 0.85. Snowflake Inc. has a 1 year low of $122.60 and a 1 year high of $237.72. The business has a fifty day moving average of $144.72 and a 200 day moving average of $171.46.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The company had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Equities analysts anticipate that Snowflake Inc. will post -2.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent analyst reports. Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Mizuho reduced their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Piper Sandler reiterated an “overweight” rating and set a $240.00 price target on shares of Snowflake in a report on Wednesday, June 5th. Oppenheimer restated an “outperform” rating and issued a $220.00 price objective on shares of Snowflake in a report on Thursday, May 23rd. Finally, Scotiabank lowered their target price on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $199.46.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 3,845 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the sale, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the sale, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at $60,922,410.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Emily Ho sold 3,845 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total transaction of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 519,112 shares of company stock worth $64,932,073. Corporate insiders own 7.80% of the company’s stock.

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.