IFM Investors Pty Ltd Has $6.79 Million Holdings in Snowflake Inc. (NYSE:SNOW)

IFM Investors Pty Ltd grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,081 shares of the company’s stock after acquiring an additional 294 shares during the period. IFM Investors Pty Ltd’s holdings in Snowflake were worth $6,786,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SNOW. Kingswood Wealth Advisors LLC acquired a new stake in shares of Snowflake in the first quarter valued at approximately $215,000. Future Financial Wealth Managment LLC bought a new position in Snowflake in the first quarter valued at approximately $32,000. Independence Bank of Kentucky increased its stake in Snowflake by 36.5% in the first quarter. Independence Bank of Kentucky now owns 4,715 shares of the company’s stock valued at $762,000 after acquiring an additional 1,260 shares during the last quarter. Hodges Capital Management Inc. bought a new position in Snowflake in the first quarter valued at approximately $230,000. Finally, Brown Miller Wealth Management LLC increased its stake in Snowflake by 14.5% in the first quarter. Brown Miller Wealth Management LLC now owns 5,622 shares of the company’s stock valued at $908,000 after acquiring an additional 714 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the company’s 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 sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was 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 of the company’s stock, valued at $86,610,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,049,994 over the last three months. Corporate insiders own 7.80% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW opened at $116.00 on Friday. The firm has a 50-day moving average of $115.59 and a 200-day moving average of $132.00. The company has a market cap of $38.84 billion, a PE ratio of -41.43 and a beta of 0.83. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate 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 for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.52) earnings per share. On average, equities research analysts expect that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Needham & Company LLC decreased their price objective on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. UBS Group decreased their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Wednesday, October 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group cut their price target on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.74.

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.