National Pension Service increased its position in Snowflake Inc. (NYSE:SNOW – Get Rating) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 318,561 shares of the company’s stock after buying an additional 9,056 shares during the quarter. National Pension Service owned about 0.10% of Snowflake worth $54,264,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Ronald Blue Trust Inc. lifted its holdings in shares of Snowflake by 41.4% in the third quarter. Ronald Blue Trust Inc. now owns 198 shares of the company’s stock valued at $28,000 after buying an additional 58 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Castleview Partners LLC acquired a new stake in shares of Snowflake during the second quarter worth $32,000. Janiczek Wealth Management LLC raised its position in shares of Snowflake by 617.9% during the third quarter. Janiczek Wealth Management LLC now owns 201 shares of the company’s stock worth $32,000 after purchasing an additional 173 shares during the period. Finally, GHP Investment Advisors Inc. raised its position in shares of Snowflake by 5,000.0% during the third quarter. GHP Investment Advisors Inc. now owns 204 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.
Insider Buying and Selling at Snowflake
In other Snowflake news, CEO Frank Slootman sold 1,701 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $141.38, for a total value of $240,487.38. Following the completion of the transaction, the chief executive officer now owns 130,241 shares of the company’s stock, valued at approximately $18,413,472.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Snowflake news, CEO Frank Slootman sold 1,701 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $141.38, for a total value of $240,487.38. Following the completion of the transaction, the chief executive officer now owns 130,241 shares of the company’s stock, valued at approximately $18,413,472.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Dennis Mcmahon sold 10,053 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $139.98, for a total value of $1,407,218.94. Following the completion of the transaction, the director now directly owns 155,902 shares of the company’s stock, valued at $21,823,161.96. The disclosure for this sale can be found here. Insiders sold a total of 70,318 shares of company stock valued at $9,856,800 in the last quarter. Corporate insiders own 8.90% of the company’s stock.
Snowflake Stock Down 0.2 %
Snowflake (NYSE:SNOW – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.12). The business had revenue of $589.01 million for the quarter, compared to the consensus estimate of $571.57 million. Snowflake had a negative net margin of 38.57% and a negative return on equity of 13.89%. Analysts anticipate that Snowflake Inc. will post -1.63 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Raymond James cut their target price on Snowflake from $180.00 to $170.00 and set an “outperform” rating on the stock in a research report on Thursday, March 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $215.00 target price on shares of Snowflake in a research report on Thursday, March 2nd. Guggenheim dropped their price target on Snowflake to $105.00 in a research report on Friday, December 2nd. Wells Fargo & Company initiated coverage on Snowflake in a research report on Friday, January 6th. They set an “overweight” rating and a $170.00 price target on the stock. Finally, UBS Group dropped their price target on Snowflake from $175.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday, December 1st. Four analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.75.
Snowflake Profile
Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.
Further Reading
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