Snowflake Inc. (NYSE:SNOW) Stock Position Lifted by Wealthspire Advisors LLC

Wealthspire Advisors LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.2% during the second quarter, Holdings Channel.com reports. The firm owned 8,849 shares of the company’s stock after acquiring an additional 191 shares during the period. Wealthspire Advisors LLC’s holdings in Snowflake were worth $1,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. Vanguard Group Inc. boosted its stake in Snowflake by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after purchasing an additional 297,428 shares in the last quarter. Jennison Associates LLC boosted its stake in Snowflake by 3.7% during the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after buying an additional 249,249 shares in the last quarter. Sands Capital Management LLC grew its holdings in Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after acquiring an additional 610,970 shares during the period. Norges Bank bought a new stake in Snowflake in the fourth quarter worth about $838,455,000. Finally, WCM Investment Management LLC lifted its holdings in Snowflake by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock valued at $298,644,000 after acquiring an additional 11,677 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Up 0.6 %

Shares of SNOW stock opened at $113.67 on Monday. The business’s 50 day moving average is $123.48 and its two-hundred day moving average is $141.48. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a market cap of $38.10 billion, a PE ratio of -40.60 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the business posted ($0.52) EPS. Snowflake’s revenue was up 28.9% compared to the same quarter last year. As a group, equities analysts expect that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNOW. TD Cowen cut their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. JMP Securities decreased their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. Citigroup reduced their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Loop Capital decreased their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group cut their price objective on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $176.03.

Insider Transactions at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,295 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.19, for a total value of $162,121.05. Following the sale, the insider now owns 58,791 shares of the company’s stock, valued at approximately $7,360,045.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Christian Kleinerman sold 558 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 transaction of $61,357.68. Following the completion of the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benoit Dageville sold 1,295 shares of Snowflake stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.19, for a total value of $162,121.05. Following the sale, the insider now directly owns 58,791 shares in the company, valued at $7,360,045.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 512,262 shares of company stock worth $63,340,261. Company insiders own 7.80% of the company’s stock.

About Snowflake

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.