Private Advisor Group LLC Has $4.05 Million Position in Snowflake Inc. (NYSE:SNOW)

Private Advisor Group LLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 32.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,324 shares of the company’s stock after purchasing an additional 5,027 shares during the period. Private Advisor Group LLC’s holdings in Snowflake were worth $4,045,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rakuten Securities Inc. acquired a new position in shares of Snowflake during the fourth quarter worth approximately $790,000. Sequoia Financial Advisors LLC raised its position in Snowflake by 209.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after purchasing an additional 3,152 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Snowflake during the 3rd quarter worth $458,000. Glynn Capital Management LLC boosted its position in Snowflake by 3.1% in the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock valued at $28,786,000 after buying an additional 5,629 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Snowflake by 55.9% in the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after buying an additional 105,937 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several recent research reports. HSBC reiterated a “reduce” rating on shares of Snowflake in a report on Thursday, February 29th. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Wednesday. UBS Group lifted their target price on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Rosenblatt Securities upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Friday, April 5th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 price objective on shares of Snowflake in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.77.

Insider Buying and Selling at Snowflake

In other news, insider Benoit Dageville sold 689 shares of the firm’s 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 owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Snowflake news, insider Benoit Dageville sold 689 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 $111,218.38. Following the transaction, the insider now directly owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $230.00, for a total value of $345,000.00. Following the sale, the senior vice president now directly owns 725,067 shares of the company’s stock, valued at approximately $166,765,410. The disclosure for this sale can be found here. Insiders sold 62,380 shares of company stock valued at $9,906,900 in the last quarter. 8.30% of the stock is currently owned by insiders.

Snowflake Price Performance

Snowflake stock opened at $155.86 on Friday. The company’s 50-day moving average is $158.91 and its 200-day moving average is $179.12. The firm has a market capitalization of $52.09 billion, a PE ratio of -61.12 and a beta of 0.90. Snowflake Inc. has a fifty-two week low of $138.40 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly 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 firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. As a group, 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.