Brighton Jones LLC Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

Brighton Jones LLC increased its position in Snowflake Inc. (NYSE:SNOW) by 59.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,852 shares of the company’s stock after purchasing an additional 32,310 shares during the period. Snowflake makes up approximately 0.7% of Brighton Jones LLC’s holdings, making the stock its 21st biggest position. Brighton Jones LLC’s holdings in Snowflake were worth $17,284,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ulland Investment Advisors LLC raised its stake in shares of Snowflake by 270.0% in the third 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 purchased a new stake in shares of Snowflake during the 3rd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Snowflake by 54.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 72 shares during the period. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Snowflake by 89.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. Finally, M&R Capital Management Inc. lifted its position in Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after purchasing an additional 100 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNOW. Evercore ISI decreased their target price on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. UBS Group raised their target price on Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Royal Bank of Canada cut their price target on Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Citigroup cut their price objective on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Finally, Raymond James raised their target price on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Insiders Place Their Bets

In other Snowflake news, insider Benoit Dageville sold 8,515 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now owns 55,216 shares in the company, valued at $8,627,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Benoit Dageville sold 8,515 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the transaction, the insider now owns 55,216 shares in the company, valued at approximately $8,627,500. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,533 shares of Snowflake stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the completion of the transaction, the executive now directly owns 98,172 shares in the company, valued at $19,638,326.88. The disclosure for this sale can be found here. Insiders have sold a total of 168,209 shares of company stock worth $34,291,592 in the last three months. Corporate insiders own 8.30% of the company’s stock.

Snowflake Price Performance

Shares of SNOW traded down $2.28 during midday trading on Tuesday, hitting $155.16. The stock had a trading volume of 4,011,604 shares, compared to its average volume of 6,482,611. The firm has a market cap of $51.85 billion, a PE ratio of -61.80 and a beta of 0.91. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72. The stock’s 50 day moving average is $168.46 and its 200 day moving average is $179.14.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, equities research analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

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.