Stonegate Investment Group LLC Has $1.10 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Stonegate Investment Group LLC boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,564 shares of the company’s stock after purchasing an additional 610 shares during the period. Stonegate Investment Group LLC’s holdings in Snowflake were worth $1,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC acquired a new position in shares of Snowflake in the 4th quarter valued at $337,000. Mather Group LLC. acquired a new stake in Snowflake during the 1st quarter worth approximately $45,000. Fulton Bank N.A. acquired a new stake in Snowflake during the 1st quarter worth approximately $212,000. Banque Cantonale Vaudoise raised its holdings in shares of Snowflake by 198.0% in the first quarter. Banque Cantonale Vaudoise now owns 12,264 shares of the company’s stock valued at $1,982,000 after purchasing an additional 8,148 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Snowflake by 0.5% in the first quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after buying an additional 70 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SNOW shares. Scotiabank reduced their price objective on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. Stifel Nicolaus reduced their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a report on Wednesday, October 2nd. Jefferies Financial Group cut their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, UBS Group lowered their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.74.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,049,994 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Up 0.4 %

NYSE:SNOW opened at $119.56 on Friday. The stock’s fifty day moving average is $116.65 and its two-hundred day moving average is $133.31. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The stock has a market capitalization of $40.03 billion, a price-to-earnings ratio of -42.70 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.52) earnings per share. On average, sell-side analysts expect that Snowflake Inc. will post -2.41 EPS for the current fiscal 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.