OneDigital Investment Advisors LLC Purchases 614 Shares of Snowflake Inc. (NYSE:SNOW)

OneDigital Investment Advisors LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 24.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,154 shares of the company’s stock after acquiring an additional 614 shares during the period. OneDigital Investment Advisors LLC’s holdings in Snowflake were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in shares of Snowflake by 26.1% during the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock valued at $230,000 after purchasing an additional 295 shares in the last quarter. Covestor Ltd increased its position in Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after buying an additional 70 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Snowflake by 21.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock valued at $2,042,000 after buying an additional 2,191 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in Snowflake by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock worth $646,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Snowflake by 372.1% in the first quarter. Canada Pension Plan Investment Board now owns 226,153 shares of the company’s stock worth $36,546,000 after acquiring an additional 178,253 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $171.05 on Friday. The company has a market capitalization of $57.34 billion, a P/E ratio of -55.90 and a beta of 0.83. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The firm’s 50 day simple moving average is $118.98 and its two-hundred day simple moving average is $128.19.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share 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 company had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the previous year, the company earned ($0.52) EPS. Snowflake’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research note on Tuesday. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and raised their price target for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. JMP Securities lowered their price objective on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $185.00 target price (up from $165.00) on shares of Snowflake in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.23.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,061,544 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

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.