Malaga Cove Capital LLC Has $857,000 Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Malaga Cove Capital LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 44.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,457 shares of the company’s stock after purchasing an additional 2,295 shares during the quarter. Malaga Cove Capital LLC’s holdings in Snowflake were worth $857,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Comerica Bank boosted its holdings in Snowflake by 17.2% during the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after buying an additional 4,296 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after acquiring an additional 43,062 shares during the last quarter. Cetera Investment Advisers grew its holdings in Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after purchasing an additional 42,563 shares during the period. LRI Investments LLC bought a new stake in Snowflake in the first quarter valued at approximately $29,000. Finally, Fulton Bank N.A. raised its holdings in Snowflake by 17.4% in the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock worth $208,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Jefferies Financial Group dropped their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Citigroup decreased their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Stifel Nicolaus lowered their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Finally, Loop Capital cut their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $174.17.

Snowflake Price Performance

Shares of SNOW opened at $121.39 on Thursday. The company’s 50-day moving average is $114.63 and its 200-day moving average is $129.94. The firm has a market capitalization of $40.69 billion, a PE ratio of -39.67 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.52) EPS. Analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now directly owns 759,473 shares in the company, valued at $83,511,651.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $715,051.89. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $23,877,196.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,538 shares of company stock worth $5,249,994. Company insiders own 7.80% of the company’s stock.

Snowflake Company 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.