Baird Financial Group Inc. Buys 267 Shares of Snowflake Inc. (NYSE:SNOW)

Baird Financial Group Inc. boosted its stake in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 21.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,524 shares of the company’s stock after buying an additional 267 shares during the quarter. Baird Financial Group Inc.’s holdings in Snowflake were worth $212,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SNOW. Cambridge Investment Research Advisors Inc. lifted its holdings in Snowflake by 27.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,247 shares of the company’s stock valued at $5,556,000 after purchasing an additional 5,260 shares during the last quarter. Keybank National Association OH lifted its holdings in Snowflake by 131.3% during the second quarter. Keybank National Association OH now owns 35,209 shares of the company’s stock valued at $4,896,000 after purchasing an additional 19,990 shares during the last quarter. AE Wealth Management LLC lifted its holdings in Snowflake by 205.1% during the second quarter. AE Wealth Management LLC now owns 5,443 shares of the company’s stock valued at $757,000 after purchasing an additional 3,659 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Snowflake by 0.7% during the first quarter. Victory Capital Management Inc. now owns 13,338 shares of the company’s stock valued at $2,287,000 after purchasing an additional 93 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in Snowflake during the second quarter valued at about $208,000. Institutional investors own 66.74% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $146.45 on Thursday. The company’s 50 day moving average price is $164.36 and its 200-day moving average price is $155.11. Snowflake Inc. has a 52-week low of $110.26 and a 52-week high of $378.11. The stock has a market capitalization of $46.86 billion, a price-to-earnings ratio of -67.49 and a beta of 0.86.

Snowflake (NYSE:SNOWGet Rating) last announced 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 during the quarter, compared to analysts’ expectations of $466.03 million. As a group, equities research analysts forecast that Snowflake Inc. will post -2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SNOW shares. Cowen upped their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Canaccord Genuity Group upped their price objective on shares of Snowflake from $185.00 to $200.00 in a report on Thursday, August 25th. Capital One Financial assumed coverage on shares of Snowflake in a report on Friday, August 19th. They issued an “equal weight” rating and a $182.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Snowflake from $120.00 to $180.00 in a report on Thursday, August 25th. Finally, BTIG Research downgraded shares of Snowflake from a “buy” rating to a “neutral” rating in a report on Tuesday, August 2nd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.97.

Insider Buying and Selling

In related news, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $131,123.64. Following the completion of the sale, the insider now owns 15,512 shares of the company’s stock, valued at $2,809,378.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snowflake news, Director Teresa Briggs sold 1,224 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $195.73, for a total transaction of $239,573.52. Following the completion of the transaction, the director now owns 2,217 shares of the company’s stock, valued at $433,933.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $181.11, for a total value of $131,123.64. Following the transaction, 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. Insiders sold 3,599 shares of company stock valued at $669,710 over the last quarter. 8.90% of the stock is owned by company insiders.

Snowflake Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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