Advisor Group Holdings Inc. Acquires 11,975 Shares of Snowflake Inc. (NYSE:SNOW)

Posted by Defense World Staff on May 29th, 2023

Advisor Group Holdings Inc. increased its holdings in shares of Snowflake Inc. (NYSE:SNOW – Get Rating) by 20.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,901 shares of the company’s stock after buying an additional 11,975 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Snowflake were worth $10,033,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Aigen Investment Management LP raised its stake in Snowflake by 246.5% during the fourth quarter. Aigen Investment Management LP now owns 23,433 shares of the company’s stock worth $3,364,000 after acquiring an additional 16,670 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Snowflake by 28.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,691,190 shares of the company’s stock valued at $242,753,000 after purchasing an additional 371,160 shares during the last quarter. SVB Wealth LLC boosted its position in Snowflake by 3.7% in the fourth quarter. SVB Wealth LLC now owns 90,814 shares of the company’s stock valued at $13,366,000 after buying an additional 3,207 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Snowflake by 134.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,812 shares of the company’s stock worth $2,270,000 after buying an additional 9,065 shares during the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in shares of Snowflake in the 4th quarter valued at $1,263,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John Dennis Mcmahon sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $142.65, for a total value of $142,650.00. Following the transaction, the director now owns 154,902 shares in the company, valued at approximately $22,096,770.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Benoit Dageville sold 13,182 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $180.00, for a total transaction of $2,372,760.00. Following the completion of the sale, the insider now owns 43,063 shares in the company, valued at $7,751,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dennis Mcmahon sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $142.65, for a total transaction of $142,650.00. Following the sale, the director now owns 154,902 shares of the company’s stock, valued at approximately $22,096,770.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 309,301 shares of company stock valued at $44,133,577. Corporate insiders own 8.30% of the company’s stock.

Snowflake Stock Up 1.4 %

Shares of NYSE:SNOW opened at $150.01 on Monday. The business’s 50 day moving average is $151.59 and its 200 day moving average is $148.40. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $205.66.

Snowflake (NYSE:SNOW – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12). The firm had revenue of $589.01 million for the quarter, compared to analysts’ expectations of $571.57 million. Snowflake had a negative return on equity of 14.72% and a negative net margin of 37.78%. Analysts forecast that Snowflake Inc. will post -1.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SNOW shares. Rosenblatt Securities lowered Snowflake from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $188.00 to $170.00 in a research report on Thursday. Stifel Nicolaus lowered their price objective on Snowflake from $185.00 to $180.00 in a research note on Thursday. Mizuho cut their target price on shares of Snowflake from $185.00 to $175.00 in a research report on Thursday. StockNews.com assumed coverage on shares of Snowflake in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Finally, Evercore ISI cut their price target on shares of Snowflake from $196.00 to $190.00 in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-three have assigned 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 $183.17.

About Snowflake

(Get Rating)

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.