Sand Hill Global Advisors LLC Buys New Shares in Snowflake Inc. (NYSE:SNOW)

Sand Hill Global Advisors LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,048 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Provence Wealth Management Group bought a new position in Snowflake during the third quarter worth $30,000. Global Wealth Management Investment Advisory Inc. boosted its position in Snowflake by 89.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares during the period. M&R Capital Management Inc. boosted its position in Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares during the period. Parkside Financial Bank & Trust boosted its position in Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of Snowflake by 154.8% during the third quarter. Valley National Advisers Inc. now owns 293 shares of the company’s stock worth $45,000 after buying an additional 178 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Down 2.4 %

Shares of SNOW traded down $3.98 during trading hours on Thursday, reaching $159.36. 10,940,299 shares of the company’s stock traded hands, compared to its average volume of 6,079,717. The firm’s 50 day simple moving average is $157.13 and its 200-day simple moving average is $180.26. The stock has a market cap of $53.26 billion, a PE ratio of -62.21 and a beta of 0.90. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, analysts expect that Snowflake Inc. will post -1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial dropped their price target on Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. UBS Group boosted their price target on Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday. Rosenblatt Securities boosted their price target on Snowflake from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday. Redburn Atlantic reissued a “sell” rating and set a $125.00 target price (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Finally, Needham & Company LLC lowered their target price on Snowflake from $240.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.06.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Grzegorz Czajkowski sold 683 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at $4,457,133.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is currently owned by insiders.

About Snowflake

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.