Telemus Capital LLC Has $535,000 Holdings in Snowflake Inc. (NYSE:SNOW)

Telemus Capital LLC boosted its stake in Snowflake Inc. (NYSE:SNOW) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,687 shares of the company’s stock after purchasing an additional 308 shares during the quarter. Telemus Capital LLC’s holdings in Snowflake were worth $535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Snowflake by 4.0% in the third 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. FMR LLC raised its stake in Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Northern Trust Corp raised its stake in Snowflake by 5.4% during the third quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock worth $287,556,000 after acquiring an additional 95,814 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Snowflake by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 1,668,797 shares of the company’s stock worth $254,942,000 after acquiring an additional 79,825 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Snowflake by 69.9% during the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after acquiring an additional 623,277 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Up 1.2 %

Shares of SNOW opened at $147.21 on Tuesday. Snowflake Inc. has a 12-month low of $135.26 and a 12-month high of $237.72. The business’s fifty day moving average is $176.10 and its 200 day moving average is $179.38.

Snowflake (NYSE:SNOW) last issued its earnings results 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. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. On average, equities research analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Benoit Dageville sold 8,515 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the transaction, the insider now directly owns 55,216 shares in the company, valued at approximately $8,627,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Benoit Dageville sold 8,515 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the transaction, the insider now directly owns 55,216 shares in the company, valued at approximately $8,627,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the company’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the purchase, the chief executive officer now owns 31,542 shares in the company, valued at approximately $5,000,037.84. The disclosure for this purchase can be found here. Insiders have sold a total of 178,209 shares of company stock worth $36,391,592 in the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNOW. Evercore ISI lowered their target price on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Bank of America lowered their price objective on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. UBS Group upped their price objective on Snowflake from $185.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Finally, Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

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.