17,531 Shares in Snowflake Inc. (NYSE:SNOW) Bought by NewSquare Capital LLC

NewSquare Capital LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,531 shares of the company’s stock, valued at approximately $3,489,000.

Several other institutional investors and hedge funds have also bought and sold shares of SNOW. Ulland Investment Advisors LLC raised its holdings 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 buying an additional 135 shares in the last quarter. Provence Wealth Management Group acquired a new position in Snowflake during the third quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. raised its stake in Snowflake by 54.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 72 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its stake in shares of Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 1.6 %

Shares of NYSE:SNOW traded up $2.44 during midday trading on Wednesday, reaching $153.61. 2,552,828 shares of the company traded hands, compared to its average volume of 6,544,069. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72. The firm’s fifty day moving average price is $174.58 and its two-hundred day moving average price is $179.32. The firm has a market capitalization of $51.34 billion, a price-to-earnings ratio of -60.21 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating 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 analysts’ expectations of $759.86 million. Analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SNOW. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 price objective (down from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Raymond James upped their price target on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Wedbush raised their price objective on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Canaccord Genuity Group restated a “buy” rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, February 29th. Finally, StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $202.00.

Insider Activity

In other news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 approximately $4,457,133.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Snowflake news, CRO Christopher William Degnan sold 12,533 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the completion of the sale, the executive now owns 98,172 shares of the company’s stock, valued at approximately $19,638,326.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 1,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction 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 approximately $4,457,133.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,209 shares of company stock worth $34,291,592. 8.30% of the stock is currently owned by insiders.

Snowflake Company 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.