Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 296.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 119,571 shares of the company’s stock after purchasing an additional 89,382 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Snowflake were worth $18,449,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Bordeaux Wealth Advisors LLC increased its position in Snowflake by 63.1% in the 1st quarter. Bordeaux Wealth Advisors LLC now owns 6,833 shares of the company’s stock valued at $1,054,000 after acquiring an additional 2,643 shares during the period. Intellectus Partners LLC boosted its holdings in Snowflake by 5.0% in the 1st quarter. Intellectus Partners LLC now owns 3,170 shares of the company’s stock valued at $489,000 after purchasing an additional 150 shares in the last quarter. Holistic Financial Partners boosted its holdings in Snowflake by 8.6% in the 1st quarter. Holistic Financial Partners now owns 1,618 shares of the company’s stock valued at $250,000 after purchasing an additional 128 shares in the last quarter. Wharton Business Group LLC purchased a new stake in Snowflake in the 1st quarter valued at approximately $228,000. Finally, KBC Group NV boosted its holdings in Snowflake by 333.1% in the 1st quarter. KBC Group NV now owns 88,531 shares of the company’s stock valued at $13,659,000 after purchasing an additional 68,091 shares in the last quarter. Institutional investors and hedge funds own 63.55% of the company’s stock.
Snowflake Stock Performance
Shares of NYSE SNOW opened at $166.67 on Friday. Snowflake Inc. has a 1 year low of $119.27 and a 1 year high of $205.66. The firm has a market cap of $54.32 billion, a price-to-earnings ratio of -62.42 and a beta of 0.75. The stock’s 50-day simple moving average is $174.90 and its 200-day simple moving average is $159.50.
Insider Buying and Selling
In related news, CEO Frank Slootman sold 8,334 shares of Snowflake stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $168.35, for a total value of $1,403,028.90. Following the completion of the transaction, the chief executive officer now directly owns 185,683 shares in the company, valued at $31,259,733.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snowflake news, SVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $184.94, for a total value of $277,410.00. Following the completion of the transaction, the senior vice president now directly owns 765,897 shares in the company, valued at $141,644,991.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Frank Slootman sold 8,334 shares of Snowflake stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $168.35, for a total value of $1,403,028.90. Following the completion of the transaction, the chief executive officer now owns 185,683 shares of the company’s stock, valued at $31,259,733.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 646,395 shares of company stock worth $114,793,237. Corporate insiders own 8.30% of the company’s stock.
Wall Street Analyst Weigh In
SNOW has been the topic of a number of analyst reports. 888 reaffirmed a “maintains” rating on shares of Snowflake in a report on Wednesday, June 28th. Citigroup lowered their price objective on Snowflake from $202.00 to $189.00 in a report on Friday, May 26th. StockNews.com began coverage on Snowflake in a research note on Thursday, May 18th. They set a “sell” rating on the stock. JPMorgan Chase & Co. boosted their price target on Snowflake from $155.00 to $180.00 in a research note on Wednesday, June 28th. Finally, Needham & Company LLC boosted their price target on Snowflake from $180.00 to $216.00 in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $191.69.
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.
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