KBC Group NV Purchases 3,183 Shares of Snowflake Inc. (NYSE:SNOW)

KBC Group NV raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,784 shares of the company’s stock after buying an additional 3,183 shares during the period. KBC Group NV’s holdings in Snowflake were worth $4,570,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB purchased a new position in Snowflake during the 1st quarter valued at $258,957,000. AQR Capital Management LLC boosted its stake in shares of Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares during the period. SG Americas Securities LLC grew its holdings in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after purchasing an additional 628,511 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after buying an additional 600,469 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Snowflake by 12,318.3% during the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after buying an additional 526,608 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is owned by insiders.

Snowflake Stock Down 2.6 %

Shares of NYSE:SNOW opened at $125.96 on Monday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The stock has a market cap of $42.22 billion, a price-to-earnings ratio of -41.16 and a beta of 0.83. The business has a 50-day moving average price of $116.73 and a 200-day moving average price of $128.30.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.52) EPS. As a group, equities analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNOW. Needham & Company LLC dropped their target price on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Canaccord Genuity Group decreased their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Stifel Nicolaus dropped their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Finally, TD Cowen decreased their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $172.09.

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.