Rokos Capital Management LLP Takes Position in Snowflake Inc. $SNOW

Rokos Capital Management LLP purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 24,465 shares of the company’s stock, valued at approximately $5,471,000.

Several other institutional investors have also recently bought and sold shares of SNOW. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snowflake during the second quarter worth $3,900,134,000. Norges Bank acquired a new position in Snowflake during the 2nd quarter worth about $944,895,000. Winslow Capital Management LLC acquired a new position in Snowflake during the 2nd quarter worth about $725,667,000. AQR Capital Management LLC grew its holdings in Snowflake by 346.2% during the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after acquiring an additional 2,460,769 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Snowflake by 20.5% in the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after acquiring an additional 1,363,389 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $230.65, for a total transaction of $92,951.95. Following the transaction, the director owned 24,524 shares of the company’s stock, valued at $5,656,460.60. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 1,993 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $223.31, for a total transaction of $445,056.83. Following the completion of the sale, the director owned 150,456 shares in the company, valued at approximately $33,598,329.36. This trade represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 221,360 shares of company stock worth $53,391,315 in the last ninety days. Company insiders own 6.80% of the company’s stock.

Snowflake Stock Down 2.8%

NYSE:SNOW opened at $216.26 on Thursday. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The company has a quick ratio of 1.48, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $73.27 billion, a P/E ratio of -53.53 and a beta of 1.09. The stock’s fifty day simple moving average is $250.99 and its 200-day simple moving average is $227.12.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. The firm’s revenue was up 28.7% on a year-over-year basis. Equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNOW. Wedbush reiterated an “outperform” rating and set a $270.00 target price on shares of Snowflake in a research report on Thursday, December 4th. UBS Group reaffirmed a “buy” rating on shares of Snowflake in a report on Thursday, December 4th. Cantor Fitzgerald increased their price objective on Snowflake from $275.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Oppenheimer restated an “outperform” rating on shares of Snowflake in a research report on Friday, November 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target on shares of Snowflake in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $274.78.

Snowflake 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.