Quantum Private Wealth LLC Has $1.19 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Quantum Private Wealth LLC lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 5,958 shares of the company’s stock after selling 99 shares during the quarter. Quantum Private Wealth LLC’s holdings in Snowflake were worth $1,186,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. 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 acquiring an additional 135 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Snowflake by 333.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Provence Wealth Management Group bought a new position in shares of Snowflake in the 3rd quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Snowflake by 54.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after acquiring an additional 72 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Snowflake news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction dated 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 owns 28,393 shares in the company, valued at approximately $4,457,133.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sridhar Ramaswamy purchased 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the purchase, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The disclosure for this purchase can be found here. In the last quarter, insiders sold 179,055 shares of company stock worth $36,633,917. Insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada dropped their price target on Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. HSBC reaffirmed a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Finally, JMP Securities raised their target price on Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Price Performance

Shares of SNOW traded down $1.68 during trading hours on Wednesday, hitting $150.30. The stock had a trading volume of 4,705,665 shares, compared to its average volume of 5,239,566. The firm has a 50 day simple moving average of $182.44 and a 200-day simple moving average of $179.47. The firm has a market capitalization of $50.23 billion, a P/E ratio of -58.94 and a beta of 0.91. Snowflake Inc. has a 1-year low of $135.26 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last issued its 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. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Equities analysts predict that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Snowflake Company 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.