Kazazian Asset Management LLC Sells 4,900 Shares of Snowflake Inc. $SNOW

Kazazian Asset Management LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 59.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,300 shares of the company’s stock after selling 4,900 shares during the period. Snowflake accounts for 1.0% of Kazazian Asset Management LLC’s holdings, making the stock its 19th biggest holding. Kazazian Asset Management LLC’s holdings in Snowflake were worth $738,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock valued at $3,974,705,000 after acquiring an additional 316,573 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Snowflake in the second quarter valued at about $3,900,134,000. Jennison Associates LLC boosted its holdings in Snowflake by 20.5% in the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after acquiring an additional 763,673 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Snowflake by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,424,120 shares of the company’s stock valued at $986,057,000 after purchasing an additional 133,059 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank Of Canada upped their target price on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Robert W. Baird raised their price objective on Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. UBS Group upped their target price on Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Stifel Nicolaus increased their price target on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, BTIG Research raised their price target on shares of Snowflake from $276.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $259.89.

Insider Activity

In related news, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 931,388 shares of company stock worth $216,578,628. 6.80% of the stock is currently owned by insiders.

Snowflake Stock Up 0.2%

Shares of SNOW stock opened at $257.40 on Monday. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67. The stock has a market cap of $87.21 billion, a P/E ratio of -62.02 and a beta of 1.23. The stock has a 50 day moving average of $244.05 and a 200 day moving average of $219.26. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $0.18 EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Snowflake Company Profile

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.