Lombard Odier Asset Management USA Corp purchased a new stake in Snowflake Inc. (NYSE:SNOW) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $2,293,000.
Several other institutional investors also recently added to or reduced their stakes in the company. ICONIQ Capital LLC boosted its holdings in shares of Snowflake by 272.4% in the first quarter. ICONIQ Capital LLC now owns 32,989,621 shares of the company’s stock valued at $7,563,861,000 after buying an additional 24,131,611 shares during the period. Altimeter Capital Management LP boosted its holdings in Snowflake by 239.5% during the first quarter. Altimeter Capital Management LP now owns 32,221,080 shares of the company’s stock worth $7,387,649,000 after purchasing an additional 22,729,505 shares during the last quarter. Morgan Stanley boosted its holdings in Snowflake by 96.7% during the first quarter. Morgan Stanley now owns 12,747,746 shares of the company’s stock worth $2,922,804,000 after purchasing an additional 6,266,942 shares during the last quarter. Coatue Management LLC boosted its holdings in Snowflake by 28.9% during the first quarter. Coatue Management LLC now owns 5,242,776 shares of the company’s stock worth $1,202,063,000 after purchasing an additional 1,174,865 shares during the last quarter. Finally, SALESFORCE.COM Inc. boosted its holdings in Snowflake by 139.3% during the first quarter. SALESFORCE.COM Inc. now owns 4,985,061 shares of the company’s stock worth $1,142,975,000 after purchasing an additional 2,901,728 shares during the last quarter. Institutional investors own 59.67% of the company’s stock.
In other Snowflake news, insider Benoit Dageville sold 100 shares of the stock in a transaction dated Tuesday, July 13th. The shares were sold at an average price of $275.00, for a total transaction of $27,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Garrett sold 3,188 shares of the stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $254.59, for a total transaction of $811,632.92. The disclosure for this sale can be found here. Insiders have sold 758,703 shares of company stock worth $185,364,847 over the last quarter. Corporate insiders own 11.30% of the company’s stock.
Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Tuesday, May 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.35. The firm had revenue of $228.91 million for the quarter, compared to analyst estimates of $211.16 million. Analysts forecast that Snowflake Inc. will post -2.24 earnings per share for the current year.
SNOW has been the subject of several recent research reports. The Goldman Sachs Group upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and increased their target price for the stock from $270.00 to $275.00 in a report on Friday, May 14th. Canaccord Genuity dropped their price target on shares of Snowflake from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, May 27th. Jefferies Financial Group dropped their price target on shares of Snowflake from $280.00 to $235.00 and set a “hold” rating on the stock in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Monness Crespi & Hardt initiated coverage on shares of Snowflake in a research report on Monday, July 12th. They set a “neutral” rating and a $264.63 price target on the stock. Finally, Rosenblatt Securities dropped their price target on shares of Snowflake from $270.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, June 11th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. Snowflake currently has a consensus rating of “Hold” and an average target price of $279.74.
Snowflake Company Profile
Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.
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