Axa S.A., a multinational insurance company, has raised its stake in Snowflake Inc. by 12.5% during the second quarter, according to a report by Holdings Channel. The firm now owns 225,120 shares of Snowflake’s stock, representing an increase of 25,022 shares. The total value of Axa S.A.’s holdings in Snowflake stands at $30,411,000 as of the end of the most recent quarter.
Other hedge funds have also made changes to their positions in Snowflake. Swedbank AB acquired a new position in the company during the first quarter, worth $258,957,000. Vanguard Group Inc. increased its stake in Snowflake by 8.0% during the fourth quarter, now owning 20,988,720 shares valued at $4,176,755,000. Vaughan Nelson Investment Management L.P. purchased a new stake in the first quarter, valued at approximately $171,608,000. Cibc World Markets Corp also bought a new stake in the fourth quarter, worth about $147,120,000. Sands Capital Management LLC grew its holdings in Snowflake by 12.6% during the fourth quarter, now owning 5,443,406 shares valued at $1,083,238,000. In total, institutional investors currently own 65.10% of Snowflake’s stock.
In terms of insider trading, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock on July 5th, with an average price of $142.98, resulting in a total transaction value of $2,144,700. Following the sale, Kleinerman now holds 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. Another insider, Benoit Dageville, sold 287 shares on September 23rd at an average price of $111.41, totaling $31,974.67. Dageville now holds 53,250 shares valued at approximately $5,932,582.50. Over the past ninety days, insiders have sold a total of 45,386 shares of Snowflake stock, amounting to $5,715,941. Company insiders currently own 7.80% of the stock.
Snowflake Inc., listed on the NYSE under the ticker symbol SNOW, opened at $112.43 on Friday. The stock has a 1-year low of $107.13 and a 1-year high of $237.72. With a market capitalization of $37.69 billion, Snowflake has a price-to-earnings ratio of -40.15 and a beta of 0.83. The stock’s fifty-day moving average price is $119.19, while the 200-day moving average price is $138.07.
Snowflake reported its quarterly earnings data on August 21st, surpassing analysts’ expectations. The company posted earnings per share of $0.18 for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake’s revenue for the quarter was $868.80 million, higher than analysts’ expectations of $851.72 million. The company’s revenue increased by 28.9% year-over-year. Analysts predict that Snowflake Inc. will post -2.41 EPS for the current year.
Snowflake Inc. provides a cloud-based data platform that enables organizations to consolidate data into a single source of truth, build data-driven applications, and share data and data products. The company’s platform, known as Data Cloud, also applies artificial intelligence (AI) to solve business problems.