Financial Perspectives Inc Raises Stake in Snowflake Inc. (NYSE:SNOW)

Financial Perspectives Inc lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 12.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,634 shares of the company’s stock after buying an additional 182 shares during the period. Financial Perspectives Inc’s holdings in Snowflake were worth $325,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Snowflake in the fourth quarter worth approximately $80,000. Parkside Financial Bank & Trust boosted its holdings in shares of Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Snowflake by 90.2% during the 4th quarter. Larson Financial Group LLC now owns 447 shares of the company’s stock valued at $89,000 after buying an additional 212 shares during the period. Telemus Capital LLC increased its holdings in shares of Snowflake by 12.9% during the 4th quarter. Telemus Capital LLC now owns 2,687 shares of the company’s stock worth $535,000 after buying an additional 308 shares during the last quarter. Finally, Duality Advisers LP purchased a new position in shares of Snowflake in the 4th quarter worth $4,365,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 2.7 %

Shares of NYSE:SNOW traded up $3.96 during trading on Tuesday, hitting $151.17. 4,737,873 shares of the company traded hands, compared to its average volume of 6,595,415. The stock has a market capitalization of $50.52 billion, a price-to-earnings ratio of -59.28 and a beta of 0.91. Snowflake Inc. has a one year low of $135.26 and a one year high of $237.72. The business’s fifty day moving average is $176.10 and its 200-day moving average is $179.38.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. On average, analysts forecast that Snowflake Inc. will post -1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNOW. Stifel Nicolaus dropped their price target on Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Redburn Atlantic reissued a “sell” rating and issued a $125.00 target price (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Bank of America lowered their price target on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. JPMorgan Chase & Co. decreased their target price on Snowflake from $200.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, Mizuho reissued a “buy” rating and set a $205.00 price target (down from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Insider Activity at Snowflake

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the sale, the executive vice president now owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Grzegorz Czajkowski sold 683 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The disclosure for this sale can be found here. Insiders have sold a total of 178,209 shares of company stock worth $36,391,592 in the last ninety days. 8.30% of the stock is owned by insiders.

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.