SVB Wealth LLC Has $29.50 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

SVB Wealth LLC raised its position in Snowflake Inc. (NYSE:SNOW) by 86.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 148,217 shares of the company’s stock after acquiring an additional 68,857 shares during the period. Snowflake comprises approximately 0.7% of SVB Wealth LLC’s holdings, making the stock its 24th largest holding. SVB Wealth LLC’s holdings in Snowflake were worth $29,495,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Snowflake during the fourth quarter valued at approximately $477,435,000. FMR LLC grew its position in Snowflake by 32.1% in 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 period. Winslow Capital Management LLC acquired a new position in Snowflake during the third quarter worth $226,302,000. Renaissance Technologies LLC bought a new position in shares of Snowflake during the first quarter valued at $176,499,000. Finally, Vanguard Group Inc. boosted its stake in shares of Snowflake by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock valued at $2,968,152,000 after purchasing an additional 743,211 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 4.1 %

NYSE SNOW traded down $6.55 on Monday, hitting $152.01. 5,913,806 shares of the company were exchanged, compared to its average volume of 6,786,549. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72. The company has a market cap of $50.80 billion, a PE ratio of -59.61 and a beta of 0.91. The stock has a fifty day moving average of $183.70 and a 200-day moving average of $179.49.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, analysts expect that Snowflake Inc. will post -1.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Redburn Atlantic reaffirmed a “sell” rating and set a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Royal Bank of Canada lowered their price target on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Piper Sandler reissued an “overweight” rating and issued a $250.00 price target on shares of Snowflake in a report on Tuesday, February 27th. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Finally, Wedbush upped 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. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.00.

Insider Buying and Selling at Snowflake

In other Snowflake news, SVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $190.00, for a total transaction of $285,000.00. Following the transaction, the senior vice president now directly owns 756,567 shares of the company’s stock, valued at approximately $143,747,730. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Snowflake news, CRO Christopher William Degnan sold 2,346 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total transaction of $476,894.88. Following the completion of the sale, the executive now directly owns 102,007 shares of the company’s stock, valued at approximately $20,735,982.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $190.00, for a total value of $285,000.00. Following the completion of the sale, the senior vice president now owns 756,567 shares of the company’s stock, valued at $143,747,730. The disclosure for this sale can be found here. Insiders sold a total of 180,555 shares of company stock worth $36,918,917 over the last three months. 8.30% of the stock is owned by insiders.

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.