Snowflake Inc. (NYSE:SNOW) Shares Sold by Quadrant Capital Group LLC

Posted by Defense World Staff on Jun 4th, 2023

Quadrant Capital Group LLC cut its stake in shares of Snowflake Inc. (NYSE:SNOW – Get Rating) by 29.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 771 shares of the company’s stock after selling 317 shares during the period. Quadrant Capital Group LLC’s holdings in Snowflake were worth $111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Credit Suisse AG boosted its holdings in Snowflake by 5.3% in the third quarter. Credit Suisse AG now owns 300,472 shares of the company’s stock valued at $51,068,000 after purchasing an additional 15,034 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Snowflake by 106.7% in the fourth quarter. Metis Global Partners LLC now owns 2,776 shares of the company’s stock worth $398,000 after buying an additional 1,433 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in Snowflake by 7.8% during the 4th quarter. Belpointe Asset Management LLC now owns 2,159 shares of the company’s stock valued at $296,000 after acquiring an additional 156 shares during the last quarter. Kistler Tiffany Companies LLC grew its holdings in Snowflake by 166.8% during the 4th quarter. Kistler Tiffany Companies LLC now owns 1,905 shares of the company’s stock worth $273,000 after acquiring an additional 1,191 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Snowflake by 3.6% in the 4th quarter. First Trust Advisors LP now owns 1,060,292 shares of the company’s stock worth $152,170,000 after purchasing an additional 36,913 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNOW shares. Robert W. Baird decreased their price target on Snowflake from $185.00 to $180.00 in a research note on Thursday, March 2nd. JPMorgan Chase & Co. reduced their price objective on Snowflake from $180.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, March 2nd. Needham & Company LLC boosted their target price on shares of Snowflake from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. Rosenblatt Securities cut shares of Snowflake from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $188.00 to $170.00 in a report on Thursday, May 25th. Finally, TD Cowen decreased their price target on shares of Snowflake from $225.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.17.

Insider Buying and Selling

In other news, Director John Dennis Mcmahon sold 1,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 154,902 shares in the company, valued at approximately $22,096,770.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Benoit Dageville sold 57,564 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $140.13, for a total transaction of $8,066,443.32. Following the sale, the insider now owns 14,404 shares in the company, valued at $2,018,432.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, the director now directly 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. Over the last ninety days, insiders sold 299,248 shares of company stock worth $42,726,358. Corporate insiders own 8.30% of the company’s stock.

Snowflake Price Performance

SNOW opened at $175.21 on Friday. The stock’s fifty day moving average is $154.13 and its 200-day moving average is $148.70. Snowflake Inc. has a one year low of $110.26 and a one year high of $205.66.

Snowflake (NYSE:SNOW – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.12). Snowflake had a negative return on equity of 14.72% and a negative net margin of 37.78%. The business had revenue of $589.01 million during the quarter, compared to the consensus estimate of $571.57 million. As a group, equities research analysts predict that Snowflake Inc. will post -1.48 earnings per share for the current fiscal year.

Snowflake Company Profile

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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.