Livforsakringsbolaget Skandia Omsesidigt Boosts Stake in Snowflake Inc. (NYSE:SNOW)

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 114.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 642 shares of the company’s stock after acquiring an additional 342 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Snowflake were worth $128,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC raised its position in shares of Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after purchasing an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Provence Wealth Management Group bought a new position in Snowflake during the 3rd quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its position in shares of Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, CRO Christopher William Degnan sold 2,346 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total transaction of $476,894.88. Following the completion of the transaction, the executive now owns 102,007 shares in the company, valued at $20,735,982.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CRO Christopher William Degnan sold 2,346 shares of Snowflake stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the transaction, the executive now owns 102,007 shares in the company, valued at $20,735,982.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the completion of the transaction, the senior vice president now owns 726,567 shares of the company’s stock, valued at approximately $167,110,410. The disclosure for this sale can be found here. Insiders sold a total of 180,555 shares of company stock worth $36,868,487 over the last quarter. Company insiders own 8.30% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $148.45 on Friday. Snowflake Inc. has a twelve month low of $135.26 and a twelve month high of $237.72. The business’s 50-day simple moving average is $179.56 and its 200 day simple moving average is $179.04.

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. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. As a group, equities research analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNOW. JMP Securities increased their price objective on Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research report on Thursday, February 29th. Wedbush increased their price objective on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Barclays cut their price objective on Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price (down previously from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Finally, Needham & Company LLC reduced their target price on Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.00.

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.