Lyell Wealth Management LP Has $9.70 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Lyell Wealth Management LP increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 68.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,747 shares of the company’s stock after buying an additional 19,838 shares during the period. Lyell Wealth Management LP’s holdings in Snowflake were worth $9,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ulland Investment Advisors LLC raised its holdings in Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after purchasing an additional 135 shares during the last quarter. Provence Wealth Management Group bought a new stake in shares of Snowflake in the 3rd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Snowflake by 54.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after acquiring an additional 72 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Finally, M&R Capital Management Inc. increased its stake in shares of Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity

In related news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now directly owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now directly owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The transaction was disclosed in a legal filing with the SEC, which is available through 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 completion of the transaction, the executive vice president now directly owns 774,097 shares in the company, valued at $121,053,288.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,209 shares of company stock valued at $34,291,592. 8.30% of the stock is currently owned by corporate insiders.

Snowflake Stock Up 2.5 %

Shares of SNOW stock traded up $3.84 during mid-day trading on Wednesday, reaching $155.01. 3,962,799 shares of the stock traded hands, compared to its average volume of 6,562,033. The stock’s fifty day simple moving average is $172.95 and its two-hundred day simple moving average is $179.15. Snowflake Inc. has a 1-year low of $135.26 and a 1-year high of $237.72. The company has a market cap of $51.80 billion, a price-to-earnings ratio of -60.79 and a beta of 0.91.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. On average, equities research analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNOW shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Truist Financial cut their price objective on Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Wedbush increased their price target on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Raymond James increased their price target on Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Macquarie upgraded Snowflake from a “neutral” rating to an “outperform” rating and increased their price target for the company from $182.00 to $205.00 in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

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.