Snowflake Inc. (NYSE:SNOW) Shares Purchased by PFG Investments LLC

PFG Investments LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 116.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,207 shares of the company’s stock after acquiring an additional 2,265 shares during the period. PFG Investments LLC’s holdings in Snowflake were worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its stake in shares of Snowflake by 1.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 60,612 shares of the company’s stock valued at $9,260,000 after purchasing an additional 1,149 shares during the last quarter. Lake Street Financial LLC lifted its stake in shares of Snowflake by 19.6% in the 3rd quarter. Lake Street Financial LLC now owns 2,166 shares of the company’s stock valued at $327,000 after purchasing an additional 355 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Snowflake by 6.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock valued at $8,152,000 after purchasing an additional 3,124 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Snowflake by 0.3% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,400 shares of the company’s stock valued at $8,922,000 after purchasing an additional 200 shares during the last quarter. Finally, Ulland Investment Advisors LLC lifted its stake in shares of Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 0.4 %

NYSE SNOW traded down $0.66 on Monday, hitting $157.47. 5,166,208 shares of the stock traded hands, compared to its average volume of 6,513,337. The stock has a 50-day moving average of $168.46 and a 200 day moving average of $179.14. The company has a market capitalization of $52.63 billion, a P/E ratio of -61.75 and a beta of 0.91. Snowflake Inc. has a twelve month low of $138.40 and a twelve month 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. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, equities research analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 1,500 shares of the 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 transaction, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 1,500 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Insiders sold 168,209 shares of company stock valued at $34,291,592 in the last three months. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SNOW shares. Rosenblatt Securities upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Friday, April 5th. Royal Bank of Canada cut their price target on Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Oppenheimer dropped their price objective on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Mizuho reissued a “buy” rating and set a $205.00 target price (down previously from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.00.

About Snowflake

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.