Exchange Traded Concepts LLC Has $2.52 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Exchange Traded Concepts LLC increased its position in Snowflake Inc. (NYSE:SNOW) by 15.7% in the third quarter, HoldingsChannel reports. The firm owned 21,976 shares of the company’s stock after acquiring an additional 2,989 shares during the period. Exchange Traded Concepts LLC’s holdings in Snowflake were worth $2,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Quarry LP raised its position in Snowflake by 320.0% during the fourth quarter. Quarry LP now owns 210 shares of the company’s stock valued at $42,000 after buying an additional 160 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of Snowflake in the fourth quarter worth approximately $509,000. Centaurus Financial Inc. lifted its position in shares of Snowflake by 364.0% in the fourth quarter. Centaurus Financial Inc. now owns 3,039 shares of the company’s stock worth $605,000 after purchasing an additional 2,384 shares in the last quarter. Syon Capital LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $296,000. Finally, Richardson Financial Services Inc. acquired a new position in Snowflake in the 4th quarter valued at approximately $43,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,049,994 in the last 90 days. 7.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

SNOW has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Needham & Company LLC dropped their target price on Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. UBS Group reduced their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Barclays dropped their price objective on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Loop Capital reduced their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.74.

Snowflake Price Performance

SNOW opened at $123.15 on Tuesday. The company has a market capitalization of $41.23 billion, a P/E ratio of -43.98 and a beta of 0.83. The firm’s fifty day moving average price is $116.56 and its two-hundred day moving average price is $134.08. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same period in the previous year, the business earned ($0.52) EPS. The firm’s revenue was up 28.9% on a year-over-year basis. On average, equities research analysts expect that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

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.