Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 300 shares of the company’s stock, valued at approximately $84,000.
Several other hedge funds also recently added to or reduced their stakes in SNOW. US Bancorp DE acquired a new stake in shares of Snowflake during the third quarter worth approximately $119,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Snowflake during the third quarter worth approximately $14,101,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Snowflake during the third quarter worth approximately $31,279,000. ProShare Advisors LLC acquired a new stake in shares of Snowflake during the third quarter worth approximately $312,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Snowflake during the third quarter worth approximately $8,759,000. 23.16% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on SNOW. The Goldman Sachs Group reissued a “neutral” rating and set a $270.00 price target (down previously from $310.00) on shares of Snowflake in a research report on Thursday, March 4th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on Snowflake from $300.00 to $325.00 in a research note on Wednesday, January 13th. Evercore ISI started coverage on Snowflake in a research note on Thursday, April 1st. They set an “outperform” rating and a $311.00 price objective on the stock. Mizuho raised their price objective on Snowflake from $310.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, December 16th. Finally, Smith Barney Citigroup raised their price objective on Snowflake from $300.00 to $325.00 in a research note on Wednesday, January 13th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $287.59.
Shares of NYSE SNOW opened at $233.97 on Thursday. Snowflake Inc. has a fifty-two week low of $205.07 and a fifty-two week high of $429.00. The firm’s 50-day simple moving average is $243.86 and its 200 day simple moving average is $273.75.
Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Tuesday, March 2nd. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.53). The company had revenue of $190.50 million for the quarter, compared to analyst estimates of $178.64 million. The company’s revenue was up 117.2% compared to the same quarter last year. As a group, analysts predict that Snowflake Inc. will post -1.77 earnings per share for the current fiscal year.
Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of various sizes in a range of industries.
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