Syon Capital LLC Buys Shares of 1,485 Snowflake Inc. (NYSE:SNOW)

Syon Capital LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, Holdings Channel reports. The fund bought 1,485 shares of the company’s stock, valued at approximately $296,000.

A number of other hedge funds have also made changes to their positions in SNOW. FMR LLC raised its holdings in shares of Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares during the last quarter. Winslow Capital Management LLC acquired a new position in shares of Snowflake during the third quarter valued at approximately $226,302,000. Vanguard Group Inc. raised its holdings in shares of Snowflake by 4.0% during the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock valued at $2,968,152,000 after acquiring an additional 743,211 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Snowflake by 69.9% in the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after purchasing an additional 623,277 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Snowflake by 19,321.5% in the fourth quarter. International Assets Investment Management LLC now owns 508,843 shares of the company’s stock valued at $101,260,000 after purchasing an additional 506,223 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SNOW. Barclays cut their price target on Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and increased their price target for the company from $182.00 to $205.00 in a report on Thursday, February 29th. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Oppenheimer cut their price target on Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $250.00 price target on shares of Snowflake in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Stock Performance

Shares of SNOW opened at $158.13 on Friday. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72. The firm’s fifty day simple moving average is $169.91 and its 200-day simple moving average is $179.05.

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

Insider Buying and Selling

In related news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the sale, the insider now directly owns 70,665 shares in the company, valued at approximately $11,406,744.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the transaction, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the sale, the insider now directly owns 70,665 shares in the company, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Insiders have sold 168,209 shares of company stock worth $34,291,592 in the last ninety days. 8.30% of the stock is owned by corporate 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.