Advisory Services Network LLC Purchases 1,129 Shares of Snowflake Inc. (NYSE:SNOW)

Advisory Services Network LLC lifted its position in Snowflake Inc. (NYSE:SNOWGet Rating) by 18.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,144 shares of the company’s stock after buying an additional 1,129 shares during the quarter. Advisory Services Network LLC’s holdings in Snowflake were worth $1,636,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Neuberger Berman Group LLC boosted its position in Snowflake by 76.7% during the first quarter. Neuberger Berman Group LLC now owns 728,744 shares of the company’s stock worth $166,977,000 after purchasing an additional 316,362 shares during the period. Toroso Investments LLC boosted its position in Snowflake by 39.8% during the first quarter. Toroso Investments LLC now owns 7,304 shares of the company’s stock worth $1,674,000 after purchasing an additional 2,078 shares during the period. Capital Research Global Investors boosted its position in Snowflake by 4.5% during the first quarter. Capital Research Global Investors now owns 7,122,568 shares of the company’s stock worth $1,632,004,000 after purchasing an additional 306,258 shares during the period. Gabelli Funds LLC boosted its position in Snowflake by 7.0% during the first quarter. Gabelli Funds LLC now owns 90,155 shares of the company’s stock worth $20,657,000 after purchasing an additional 5,868 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in Snowflake by 19.1% during the first quarter. Gamco Investors INC. ET AL now owns 12,489 shares of the company’s stock worth $2,862,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 66.74% of the company’s stock.

Insider Transactions at Snowflake

In related news, CEO Frank Slootman sold 1,651 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $299,012.61. Following the sale, the chief executive officer now owns 135,781 shares in the company, valued at approximately $24,591,296.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, insider Benoit Dageville sold 724 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $131,123.64. Following the sale, the insider now owns 15,512 shares in the company, valued at approximately $2,809,378.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank Slootman sold 1,651 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $181.11, for a total value of $299,012.61. Following the sale, the chief executive officer now owns 135,781 shares in the company, valued at approximately $24,591,296.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,823 shares of company stock valued at $859,968. Corporate insiders own 8.90% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $184.67 on Monday. The stock has a market capitalization of $59.09 billion, a PE ratio of -85.10 and a beta of 1.05. The business has a fifty day moving average price of $165.07 and a two-hundred day moving average price of $167.98. Snowflake Inc. has a fifty-two week low of $110.26 and a fifty-two week high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.16). Snowflake had a negative return on equity of 12.57% and a negative net margin of 41.25%. The business had revenue of $497.25 million for the quarter, compared to analyst estimates of $466.03 million. On average, equities analysts expect that Snowflake Inc. will post -2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SNOW shares. Deutsche Bank Aktiengesellschaft upped their target price on Snowflake from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, August 25th. Wolfe Research upped their price target on Snowflake from $170.00 to $197.00 and gave the stock an “outperform” rating in a report on Thursday, August 25th. The Goldman Sachs Group upped their target price on Snowflake from $192.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Robert W. Baird upped their target price on Snowflake from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Finally, Piper Sandler upped their target price on Snowflake from $164.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, August 25th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.94.

About Snowflake

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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