4,025 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by New England Research & Management Inc.

New England Research & Management Inc. purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,025 shares of the company’s stock, valued at approximately $650,000.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. Sands Capital Management LLC lifted its stake in Snowflake by 12.6% in the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after acquiring an additional 610,970 shares during the last quarter. Norges Bank acquired a new stake in Snowflake in the fourth quarter valued at approximately $838,455,000. 1832 Asset Management L.P. raised its position in shares of Snowflake by 51.8% in the fourth quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock valued at $334,459,000 after purchasing an additional 573,400 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Snowflake by 69.9% in the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after purchasing an additional 623,277 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 0.9 %

NYSE SNOW opened at $135.09 on Friday. The stock has a 50 day moving average of $145.74 and a 200-day moving average of $173.37. Snowflake Inc. has a 12 month low of $122.60 and a 12 month high of $237.72. The company has a market cap of $45.23 billion, a PE ratio of -48.26 and a beta of 0.85.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $786.95 million. As a group, sell-side analysts predict that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Analyst Ratings Changes

SNOW has been the topic of a number of research reports. UBS Group boosted their target price on shares of Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Wedbush reiterated a “neutral” rating and set a $210.00 price target on shares of Snowflake in a research report on Wednesday, June 5th. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Barclays boosted their price objective on Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a report on Thursday, May 23rd. Finally, Macquarie lowered their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.03.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the sale, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snowflake news, insider Benoit Dageville sold 558 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the transaction, the insider now owns 63,222 shares in the company, valued at approximately $8,112,014.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction 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 transaction, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders sold 519,112 shares of company stock valued at $64,932,073 in the last quarter. 7.80% of the stock is currently owned by insiders.

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.