Snowflake Inc. (NYSE:SNOW) Stock Holdings Increased by Wealthspire Advisors LLC

Wealthspire Advisors LLC increased its holdings in Snowflake Inc. (NYSE:SNOWFree Report) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,658 shares of the company’s stock after purchasing an additional 388 shares during the quarter. Wealthspire Advisors LLC’s holdings in Snowflake were worth $1,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Choreo LLC raised its holdings in shares of Snowflake by 18.6% in the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock worth $1,336,000 after purchasing an additional 1,294 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Snowflake by 266.3% in the 4th quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock worth $2,089,000 after purchasing an additional 7,633 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Snowflake during the first quarter valued at approximately $244,000. Congress Wealth Management LLC DE acquired a new stake in shares of Snowflake during the fourth quarter valued at approximately $232,000. Finally, Riverview Trust Co acquired a new stake in shares of Snowflake during the first quarter valued at approximately $31,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent analyst reports. Mizuho cut their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Stifel Nicolaus cut their price target on shares of Snowflake from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Piper Sandler cut their price target on shares of Snowflake from $240.00 to $165.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group boosted their price target on shares of Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, May 23rd. Finally, Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Three 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.31.

Read Our Latest Research Report on Snowflake

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 848 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the sale, the director now owns 4,247 shares in the company, valued at $607,236.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Snowflake news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the sale, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders have sold 534,960 shares of company stock worth $67,198,020 in the last ninety days. Insiders own 7.80% of the company’s stock.

Snowflake Stock Down 1.8 %

SNOW opened at $135.75 on Friday. The stock’s 50 day moving average price is $142.81 and its two-hundred day moving average price is $169.23. The firm has a market capitalization of $45.45 billion, a P/E ratio of -48.48 and a beta of 0.85. Snowflake Inc. has a 12-month low of $122.60 and a 12-month high of $237.72.

Snowflake (NYSE:SNOWGet Free Report) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The business had revenue of $828.71 million during the quarter, compared to the consensus estimate of $786.95 million. As a group, analysts anticipate that Snowflake Inc. will post -2.28 earnings per share for the current year.

Snowflake Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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