SeaCrest Wealth Management LLC Has $1.45 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

SeaCrest Wealth Management LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 5.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,998 shares of the company’s stock after acquiring an additional 487 shares during the period. SeaCrest Wealth Management LLC’s holdings in Snowflake were worth $1,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after acquiring an additional 1,559,830 shares during the last quarter. Sands Capital Management LLC lifted its holdings in shares of Snowflake by 12.6% during the 4th 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 last quarter. Norges Bank purchased a new position in shares of Snowflake during the 4th quarter valued at about $838,455,000. 1832 Asset Management L.P. raised its stake in shares of Snowflake by 51.8% during the fourth quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock worth $334,459,000 after acquiring an additional 573,400 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Snowflake by 69.9% in the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after buying an additional 623,277 shares during the period. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SNOW shares. Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Wedbush reaffirmed a “neutral” rating and set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, June 5th. Wells Fargo & Company decreased their target price on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Wednesday, June 5th. Finally, Mizuho cut their price target on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.46.

Insider Buying and Selling at Snowflake

In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the transaction, the executive vice president now owns 494,942 shares in the company, valued at approximately $60,922,410.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Snowflake news, EVP Grzegorz Czajkowski sold 469,120 shares of Snowflake stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the sale, the executive vice president now owns 494,942 shares in the company, valued at $60,922,410.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the sale, the executive vice president now directly owns 772,597 shares in the company, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 519,112 shares of company stock valued at $64,932,073. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of Snowflake stock opened at $141.89 on Wednesday. Snowflake Inc. has a fifty-two week low of $122.60 and a fifty-two week high of $237.72. The business has a 50-day moving average price of $145.46 and a 200 day moving average price of $172.25.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The business had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. On average, equities analysts forecast that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

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.