GLOBALT Investments LLC GA Buys New Holdings in Snowflake Inc. (NYSE:SNOW)

GLOBALT Investments LLC GA bought a new stake in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, Holdings Channel reports. The institutional investor bought 6,965 shares of the company’s stock, valued at approximately $1,386,000.

A number of other large investors have also modified their holdings of the company. Clarity Capital Partners LLC acquired a new position in shares of Snowflake in the fourth quarter valued at $1,457,000. Quarry LP grew its position in Snowflake by 320.0% in the fourth quarter. Quarry LP now owns 210 shares of the company’s stock valued at $42,000 after acquiring an additional 160 shares during the period. Oracle Alpha Inc. bought a new stake in Snowflake in the fourth quarter valued at $844,000. Gilder Gagnon Howe & Co. LLC grew its position in Snowflake by 9.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 165,650 shares of the company’s stock valued at $32,964,000 after acquiring an additional 13,994 shares during the period. Finally, Hershey Trust Co. bought a new stake in Snowflake in the fourth quarter valued at $1,617,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

NYSE SNOW opened at $127.20 on Friday. The firm has a market cap of $42.59 billion, a P/E ratio of -45.43 and a beta of 0.85. The stock’s 50-day moving average is $150.51 and its 200-day moving average is $177.28. Snowflake Inc. has a one year low of $124.69 and a one year high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The business had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. Equities analysts anticipate that Snowflake Inc. will post -2.27 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the transaction, the insider now directly owns 63,222 shares in the company, valued at $8,112,014.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 12,636 shares of Snowflake stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.32, for a total value of $1,987,895.52. Following the transaction, the executive vice president now owns 748,257 shares of the company’s stock, valued at $117,715,791.24. The disclosure for this sale can be found here. Insiders sold a total of 82,277 shares of company stock worth $12,545,775 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SNOW shares. Mizuho lowered their price target on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Canaccord Genuity Group lowered their price target on Snowflake from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Guggenheim upgraded Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Barclays increased their target price on Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a report on Thursday, May 23rd. Finally, Oppenheimer restated an “outperform” rating and set a $220.00 target price on shares of Snowflake in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $198.92.

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.