Charles Schwab Investment Management Inc. Purchases 61,026 Shares of Snowflake Inc. (NYSE:SNOW)

Charles Schwab Investment Management Inc. lifted its position in Snowflake Inc. (NYSE:SNOW) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,131,364 shares of the company’s stock after buying an additional 61,026 shares during the period. Charles Schwab Investment Management Inc. owned about 0.34% of Snowflake worth $225,141,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC lifted its stake in Snowflake by 98.2% during the 4th quarter. Apollon Wealth Management LLC now owns 9,394 shares of the company’s stock valued at $1,870,000 after acquiring an additional 4,654 shares during the period. Lincoln National Corp boosted its stake in shares of Snowflake by 9.3% in the 4th quarter. Lincoln National Corp now owns 2,625 shares of the company’s stock worth $522,000 after buying an additional 223 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in Snowflake during the fourth quarter valued at $915,000. Maryland State Retirement & Pension System increased its position in Snowflake by 3.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 24,468 shares of the company’s stock valued at $4,869,000 after acquiring an additional 800 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in Snowflake by 32.9% in the fourth quarter. Private Advisor Group LLC now owns 20,324 shares of the company’s stock worth $4,045,000 after purchasing an additional 5,027 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wedbush boosted their target price on shares of Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Citigroup dropped their price objective on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Truist Financial reduced their price objective on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Evercore ISI reduced their price target on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Finally, Oppenheimer dropped their price objective on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $202.77.

Insider Buying and Selling

In other Snowflake news, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sridhar Ramaswamy acquired 31,542 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the acquisition, the chief executive officer now owns 31,542 shares in the company, valued at approximately $5,000,037.84. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, 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. Over the last ninety days, insiders sold 72,380 shares of company stock worth $12,206,900. Insiders own 8.30% of the company’s stock.

Snowflake Stock Down 0.9 %

Shares of NYSE SNOW opened at $157.72 on Thursday. The firm has a 50-day simple moving average of $160.35 and a 200-day simple moving average of $179.27. The stock has a market capitalization of $52.71 billion, a price-to-earnings ratio of -61.85 and a beta of 0.90. Snowflake Inc. has a 52 week low of $138.40 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS 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 during the quarter, compared to analysts’ expectations of $759.86 million. As a group, equities research analysts expect that Snowflake Inc. will post -1.9 EPS for the current year.

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.