Amalgamated Bank Raises Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Amalgamated Bank increased its position in Snowflake Inc. (NYSE:SNOWGet Rating) by 27.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,593 shares of the company’s stock after buying an additional 4,804 shares during the quarter. Amalgamated Bank’s holdings in Snowflake were worth $5,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Glassman Wealth Services increased its stake in shares of Snowflake by 233.3% in the fourth quarter. Glassman Wealth Services now owns 80 shares of the company’s stock worth $27,000 after buying an additional 56 shares during the period. GW&K Investment Management LLC purchased a new position in shares of Snowflake in the fourth quarter worth $34,000. KRS Capital Management LLC purchased a new position in shares of Snowflake in the fourth quarter worth $33,000. Level Financial Advisors Inc. increased its stake in shares of Snowflake by 475.0% in the first quarter. Level Financial Advisors Inc. now owns 115 shares of the company’s stock worth $26,000 after buying an additional 95 shares during the period. Finally, HM Payson & Co. purchased a new position in Snowflake during the 4th quarter valued at $41,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SNOW shares. JPMorgan Chase & Co. boosted their price objective on shares of Snowflake from $165.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, August 25th. Rosenblatt Securities reduced their price objective on shares of Snowflake from $255.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, August 25th. Needham & Company LLC started coverage on shares of Snowflake in a research report on Friday. They set a “buy” rating and a $240.00 price objective on the stock. Raymond James boosted their price objective on shares of Snowflake from $184.00 to $197.00 in a research report on Thursday, August 25th. Finally, Canaccord Genuity Group boosted their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.94.

Insider Buying and Selling at Snowflake

In other news, Director Teresa Briggs sold 1,224 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $195.73, for a total transaction of $239,573.52. Following the completion of the sale, the director now owns 2,217 shares of the company’s stock, valued at approximately $433,933.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Teresa Briggs sold 1,224 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $195.73, for a total transaction of $239,573.52. Following the completion of the sale, the director now owns 2,217 shares of the company’s stock, valued at approximately $433,933.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benoit Dageville sold 724 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 transaction of $131,123.64. Following the sale, the insider now directly owns 15,512 shares of the company’s stock, valued at approximately $2,809,378.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,823 shares of company stock worth $859,968. Company insiders own 8.90% of the company’s stock.

Snowflake Stock Performance

SNOW opened at $187.70 on Tuesday. The stock has a market capitalization of $60.06 billion, a P/E ratio of -86.50 and a beta of 1.05. The company’s 50-day simple moving average is $165.72 and its two-hundred day simple moving average is $167.83. Snowflake Inc. has a 52-week low of $110.26 and a 52-week high of $405.00.

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

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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