GSA Capital Partners LLP Trims Holdings in Snowflake Inc. (NYSE:SNOW)

GSA Capital Partners LLP decreased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 26.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,878 shares of the company’s stock after selling 2,124 shares during the period. GSA Capital Partners LLP’s holdings in Snowflake were worth $675,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SNOW. Legal & General Group Plc grew its stake in Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after acquiring an additional 223,936 shares in the last quarter. Swedbank AB purchased a new position in shares of Snowflake during the 1st quarter valued at $258,957,000. Bank of New York Mellon Corp increased its holdings in shares of Snowflake by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after purchasing an additional 8,743 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Snowflake by 90.3% in the second 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 in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Snowflake by 96.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,045,409 shares of the company’s stock valued at $120,076,000 after buying an additional 513,214 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 2.6 %

NYSE:SNOW opened at $125.96 on Monday. The company has a 50-day moving average price of $116.73 and a 200-day moving average price of $128.30. The stock has a market cap of $42.22 billion, a price-to-earnings ratio of -41.16 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group lowered their target price on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Monness Crespi & Hardt raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Wednesday, November 6th. TD Cowen lowered their price objective on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $172.09.

Insider Buying and Selling

In other news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 3.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This trade represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,061,544 over the last ninety days. Company insiders own 7.80% of the company’s stock.

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.