Snowflake Inc. (NYSE:SNOW) Shares Acquired by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lifted its position in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 47.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,317 shares of the company’s stock after buying an additional 4,603 shares during the period. Sigma Investment Counselors Inc.’s holdings in Snowflake were worth $1,991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Cambridge Investment Research Advisors Inc. boosted its position in Snowflake by 27.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,247 shares of the company’s stock worth $5,556,000 after purchasing an additional 5,260 shares during the period. Nordea Investment Management AB boosted its position in Snowflake by 4.5% during the 1st quarter. Nordea Investment Management AB now owns 148,058 shares of the company’s stock worth $34,591,000 after purchasing an additional 6,380 shares during the period. Wedbush Securities Inc. boosted its position in Snowflake by 25.5% during the 1st quarter. Wedbush Securities Inc. now owns 1,650 shares of the company’s stock worth $378,000 after purchasing an additional 335 shares during the period. Victory Capital Management Inc. boosted its position in Snowflake by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 13,338 shares of the company’s stock worth $2,287,000 after purchasing an additional 93 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its position in Snowflake by 2.7% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 12,690 shares of the company’s stock worth $4,299,000 after purchasing an additional 336 shares during the period. 66.74% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Down 0.9 %

SNOW stock traded down $1.60 during trading hours on Friday, hitting $170.19. 118,450 shares of the stock traded hands, compared to its average volume of 8,652,706. The stock has a 50-day simple moving average of $167.56 and a 200 day simple moving average of $167.86. Snowflake Inc. has a one year low of $110.26 and a one year high of $405.00. The company has a market cap of $54.46 billion, a P/E ratio of -78.57 and a beta of 1.05.

Snowflake (NYSE:SNOWGet Rating) last announced its earnings results on Wednesday, August 24th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.16). Snowflake had a negative net margin of 41.25% and a negative return on equity of 12.57%. The company had revenue of $497.25 million for the quarter, compared to analysts’ expectations of $466.03 million. Analysts forecast that Snowflake Inc. will post -2 earnings per share for the current year.

Insider Activity

In related news, Director John Dennis Mcmahon sold 1,224 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $155.44, for a total value of $190,258.56. Following the completion of the sale, the director now directly owns 55,659 shares of the company’s stock, valued at approximately $8,651,634.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Frank Slootman sold 1,651 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $299,012.61. Following the completion of the sale, the chief executive officer now directly owns 135,781 shares of the company’s stock, valued at approximately $24,591,296.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Dennis Mcmahon sold 1,224 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $155.44, for a total value of $190,258.56. Following the completion of the sale, the director now directly owns 55,659 shares of the company’s stock, valued at $8,651,634.96. The disclosure for this sale can be found here. Insiders sold a total of 4,823 shares of company stock valued at $859,968 over the last three months. Insiders own 8.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SNOW shares. Wolfe Research upped their price objective on shares of Snowflake from $170.00 to $197.00 and gave the company an “outperform” rating in a research report on Thursday, August 25th. Oppenheimer upped their price objective on shares of Snowflake from $200.00 to $230.00 in a research report on Thursday, August 25th. Canaccord Genuity Group upped their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. Moffett Nathanson started coverage on shares of Snowflake in a research report on Thursday. They issued a “buy” rating and a $242.00 price objective for the company. Finally, Cowen upped their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 25th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.67.

Snowflake Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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