Calamos Advisors LLC Acquires 20,823 Shares of Snowflake Inc. (NYSE:SNOW)

Calamos Advisors LLC boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 472.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,230 shares of the company’s stock after acquiring an additional 20,823 shares during the quarter. Calamos Advisors LLC’s holdings in Snowflake were worth $5,021,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Snowflake by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after purchasing an additional 743,211 shares in the last quarter. BlackRock Inc. boosted its holdings in Snowflake by 3.1% during the 1st quarter. BlackRock Inc. now owns 13,414,226 shares of the company’s stock valued at $2,069,681,000 after acquiring an additional 400,044 shares during the period. FMR LLC boosted its holdings in Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares during the period. State Street Corp boosted its holdings in Snowflake by 3.0% during the 1st quarter. State Street Corp now owns 5,782,936 shares of the company’s stock valued at $892,229,000 after acquiring an additional 165,875 shares during the period. Finally, Norges Bank purchased a new stake in Snowflake during the 4th quarter valued at about $477,435,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America dropped their target price on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Monness Crespi & Hardt upgraded Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Oppenheimer dropped their price objective on Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, Raymond James increased their price objective on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake Trading Down 2.0 %

Shares of SNOW opened at $145.45 on Friday. The business’s fifty day simple moving average is $177.80 and its two-hundred day simple moving average is $179.21. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Equities analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 2,346 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total transaction of $476,894.88. Following the sale, the executive now directly owns 102,007 shares in the company, valued at approximately $20,735,982.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CRO Christopher William Degnan sold 2,346 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the transaction, the executive now directly owns 102,007 shares in the company, valued at approximately $20,735,982.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the transaction, the insider now owns 55,216 shares in the company, valued at $8,627,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,555 shares of company stock worth $36,868,487. Insiders own 8.30% 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.