AJOVista LLC Buys Shares of 524 Snowflake Inc. (NYSE:SNOW)

AJOVista LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 524 shares of the company’s stock, valued at approximately $104,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new position in shares of Snowflake in the fourth quarter worth about $790,000. Sequoia Financial Advisors LLC raised its holdings in Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after acquiring an additional 3,152 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Snowflake during the third quarter worth $458,000. Glynn Capital Management LLC boosted its holdings in shares of Snowflake by 3.1% in the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after acquiring an additional 5,629 shares during the period. Finally, Raymond James & Associates grew its position in shares of Snowflake by 55.9% in the fourth quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after purchasing an additional 105,937 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup reduced their target price on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Wedbush lifted their price objective on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Redburn Atlantic reiterated a “sell” rating and set a $125.00 target price (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Finally, Barclays decreased their price target on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.77.

Insider Transactions at Snowflake

In related news, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the transaction, the chief executive officer now directly owns 180,143 shares in the company, valued at $40,555,593.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the senior vice president now owns 736,567 shares of the company’s stock, valued at approximately $162,044,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank Slootman sold 86,078 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the completion of the sale, the chief executive officer now owns 180,143 shares of the company’s stock, valued at approximately $40,555,593.59. The disclosure for this sale can be found here. Insiders sold 168,458 shares of company stock worth $33,785,640 in the last three months. Corporate insiders own 8.30% of the company’s stock.

Snowflake Stock Up 1.0 %

NYSE:SNOW traded up $1.55 on Friday, hitting $159.32. The stock had a trading volume of 3,660,233 shares, compared to its average volume of 4,335,201. Snowflake Inc. has a 52-week low of $138.40 and a 52-week high of $237.72. The stock has a market cap of $53.24 billion, a price-to-earnings ratio of -62.48 and a beta of 0.90. The business’s 50-day simple moving average is $163.20 and its two-hundred day simple moving average is $178.80.

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

Snowflake 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.