9,242 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by Private Advisor Group LLC

Posted by Defense World Staff on Aug 28th, 2023

Private Advisor Group LLC acquired a new position in Snowflake Inc. (NYSE:SNOW – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,242 shares of the company’s stock, valued at approximately $1,426,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of Snowflake by 13.8% during the 4th quarter. Jennison Associates LLC now owns 6,204,851 shares of the company’s stock worth $890,644,000 after buying an additional 754,039 shares during the period. State Street Corp grew its position in shares of Snowflake by 2.9% during the 1st quarter. State Street Corp now owns 4,505,988 shares of the company’s stock worth $1,032,457,000 after buying an additional 126,995 shares during the period. Norges Bank acquired a new position in shares of Snowflake during the 4th quarter worth about $477,435,000. Geode Capital Management LLC grew its position in shares of Snowflake by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 2,883,538 shares of the company’s stock worth $413,381,000 after buying an additional 133,971 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Snowflake by 59.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,851,899 shares of the company’s stock worth $265,822,000 after buying an additional 690,200 shares during the period. 63.74% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 3.3 %

Shares of Snowflake stock opened at $152.55 on Monday. Snowflake Inc. has a 12-month low of $119.27 and a 12-month high of $205.66. The business’s 50 day moving average is $168.85 and its 200-day moving average is $159.51.

Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings data on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. The company had revenue of $674.00 million for the quarter, compared to analysts’ expectations of $662.22 million. Snowflake had a negative return on equity of 14.01% and a negative net margin of 35.22%. The business’s revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.67) EPS. On average, equities research analysts expect that Snowflake Inc. will post -1.48 EPS for the current year.

Insider Buying and Selling

In related news, CEO Frank Slootman sold 20,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $188.40, for a total transaction of $3,925,125.60. Following the transaction, the chief executive officer now directly owns 185,683 shares of the company’s stock, valued at approximately $34,982,677.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snowflake news, Director Michael L. Speiser sold 330,087 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $176.63, for a total value of $58,303,266.81. Following the transaction, the director now directly owns 1,725,938 shares of the company’s stock, valued at approximately $304,852,428.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frank Slootman sold 20,834 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $188.40, for a total value of $3,925,125.60. Following the completion of the transaction, the chief executive officer now directly owns 185,683 shares in the company, valued at $34,982,677.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 634,791 shares of company stock valued at $112,514,182. 8.30% of the stock is owned by insiders.

Analyst Ratings Changes

SNOW has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Snowflake from $170.00 to $185.00 in a research report on Monday, June 26th. Morgan Stanley restated an “overweight” rating and set a $215.00 target price on shares of Snowflake in a research report on Friday, June 30th. Raymond James cut their price objective on Snowflake from $180.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday. Wedbush reiterated a “neutral” rating and set a $144.00 price objective on shares of Snowflake in a report on Thursday. Finally, Scotiabank upgraded Snowflake from a “sector perform” rating to a “sector outperform” rating and set a $213.00 price objective on the stock in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.25.

View Our Latest Report on SNOW

About Snowflake

(Free Report)

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.