Ayalon Insurance Comp Ltd. Raises Position in Snowflake Inc. (NYSE:SNOW)

Ayalon Insurance Comp Ltd. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 30.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 19,552 shares of the company’s stock after buying an additional 4,522 shares during the quarter. Ayalon Insurance Comp Ltd.’s holdings in Snowflake were worth $2,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of SNOW. LRI Investments LLC bought a new position in Snowflake in the 1st quarter worth approximately $29,000. Wellington Shields Capital Management LLC bought a new position in Snowflake in the 2nd quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new position in Snowflake in the 3rd quarter worth approximately $30,000. Global Financial Private Client LLC bought a new position in Snowflake in the 1st quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC bought a new position in Snowflake in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares in the company, valued at approximately $86,610,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the transaction, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at $86,610,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 6,251 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $23,877,196.65. 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 ninety days, insiders sold 59,538 shares of company stock worth $7,049,994. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNOW. Canaccord Genuity Group cut their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Loop Capital cut their price objective on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Bank of America cut their price target on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Argus assumed coverage on shares of Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.74.

Snowflake Trading Up 0.5 %

Snowflake stock opened at $118.99 on Thursday. The firm has a 50-day moving average of $114.71 and a 200-day moving average of $131.02. The firm has a market cap of $39.89 billion, a P/E ratio of -38.89 and a beta of 0.83. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during 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 revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.52) earnings per share. Research analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

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.