River Global Investors LLP Acquires 1,819 Shares of Snowflake Inc. (NYSE:SNOW)

River Global Investors LLP raised its holdings in Snowflake Inc. (NYSE:SNOW) by 130.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,209 shares of the company’s stock after buying an additional 1,819 shares during the quarter. River Global Investors LLP’s holdings in Snowflake were worth $638,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its position in Snowflake by 6.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock worth $8,152,000 after purchasing an additional 3,124 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Snowflake by 28.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 89,735 shares of the company’s stock valued at $13,709,000 after purchasing an additional 19,745 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Snowflake by 139.8% in the third quarter. Stratos Wealth Partners LTD. now owns 4,818 shares of the company’s stock valued at $736,000 after acquiring an additional 2,809 shares during the last quarter. Telemus Capital LLC grew its position in shares of Snowflake by 13.2% during the 3rd quarter. Telemus Capital LLC now owns 2,379 shares of the company’s stock valued at $363,000 after acquiring an additional 278 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Snowflake by 3.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,244 shares of the company’s stock worth $9,051,000 after purchasing an additional 2,232 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent research reports. Bank of America dropped their price target on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. JMP Securities upped their price target on shares of Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research note on Thursday, February 29th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Rosenblatt Securities upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Friday, April 5th. Finally, Guggenheim upgraded Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $202.77.

Insider Activity

In other Snowflake news, CEO Frank Slootman sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the transaction, the chief executive officer now owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Frank Slootman sold 86,078 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the transaction, the chief executive officer now directly owns 180,143 shares in the company, valued at $40,555,593.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the sale, the executive now directly owns 354,954 shares in the company, valued at $55,571,598.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,458 shares of company stock worth $31,585,640. Corporate insiders own 8.30% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock traded up $2.79 during midday trading on Monday, reaching $162.11. 1,798,906 shares of the company’s stock traded hands, compared to its average volume of 6,317,448. The stock has a 50 day moving average of $163.20 and a 200-day moving average of $179.12. The company has a market cap of $54.18 billion, a PE ratio of -62.80 and a beta of 0.90. Snowflake Inc. has a 12 month low of $138.40 and a 12 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 (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. On average, equities analysts anticipate that Snowflake Inc. will post -1.9 earnings per share 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.