Shariaportfolio Inc. Has $248,000 Holdings in Snowflake Inc. (NYSE:SNOW)

Shariaportfolio Inc. trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 11.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,837 shares of the company’s stock after selling 239 shares during the period. Shariaportfolio Inc.’s holdings in Snowflake were worth $248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Elkhorn Partners Limited Partnership lifted its position in Snowflake by 228.6% in the second quarter. Elkhorn Partners Limited Partnership now owns 4,600 shares of the company’s stock worth $621,000 after purchasing an additional 3,200 shares during the period. Amalgamated Bank lifted its holdings in shares of Snowflake by 1.1% during the 2nd quarter. Amalgamated Bank now owns 21,368 shares of the company’s stock worth $2,887,000 after acquiring an additional 241 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Snowflake by 3.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,865 shares of the company’s stock valued at $792,000 after acquiring an additional 180 shares in the last quarter. Andar Capital Management HK Ltd bought a new stake in Snowflake in the second quarter valued at about $1,891,000. Finally, Renaissance Technologies LLC raised its position in Snowflake by 29.2% in the second quarter. Renaissance Technologies LLC now owns 624,502 shares of the company’s stock worth $84,364,000 after purchasing an additional 141,300 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, 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 sale, the executive vice president now directly owns 759,473 shares in the company, valued at $83,511,651.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Benoit Dageville sold 1,295 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.19, for a total transaction of $162,121.05. Following the completion of the transaction, the insider now directly owns 58,791 shares of the company’s stock, valued at $7,360,045.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The disclosure for this sale can be found here. Insiders sold a total of 512,262 shares of company stock valued at $63,340,261 in the last quarter. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $111.62 on Wednesday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company’s 50 day moving average price is $122.40 and its two-hundred day moving average price is $140.42. The company has a market capitalization of $37.42 billion, a P/E ratio of -39.86 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted 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 for 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 firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.52) EPS. Analysts forecast that Snowflake Inc. will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SNOW shares. Canaccord Genuity Group lowered their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Stifel Nicolaus cut their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. UBS Group lowered their target price on shares of Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Finally, DA Davidson dropped their target price on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

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.