Bridgefront Capital LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Bridgefront Capital LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,194 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. Credit Suisse AG grew its position in Snowflake by 5.3% in the 3rd quarter. Credit Suisse AG now owns 300,472 shares of the company’s stock worth $51,068,000 after purchasing an additional 15,034 shares during the last quarter. E&G Advisors LP raised its stake in shares of Snowflake by 7.1% in the third quarter. E&G Advisors LP now owns 1,820 shares of the company’s stock worth $309,000 after acquiring an additional 120 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Snowflake by 12.0% in the third quarter. Nordea Investment Management AB now owns 256,210 shares of the company’s stock worth $44,594,000 after acquiring an additional 27,383 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Snowflake by 8.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 662,261 shares of the company’s stock worth $112,558,000 after acquiring an additional 52,666 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Snowflake by 0.9% in the second quarter. UBS Asset Management Americas Inc. now owns 1,190,819 shares of the company’s stock worth $165,595,000 after acquiring an additional 10,624 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Snowflake Trading Down 0.5 %

Shares of Snowflake stock opened at $138.92 on Friday. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $246.52. The firm’s 50-day moving average price is $149.37 and its two-hundred day moving average price is $155.44.

Snowflake (NYSE:SNOW – Get Rating) last posted its earnings results on Wednesday, March 1st. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12). The company had revenue of $589.01 million during the quarter, compared to the consensus estimate of $571.57 million. Snowflake had a negative return on equity of 13.89% and a negative net margin of 38.57%. Equities research analysts anticipate that Snowflake Inc. will post -1.63 EPS for the current year.

Insider Transactions at Snowflake

In related news, Director John Dennis Mcmahon sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $142.65, for a total value of $142,650.00. Following the completion of the transaction, the director now owns 154,902 shares in the company, valued at approximately $22,096,770.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Benoit Dageville sold 57,564 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $140.13, for a total value of $8,066,443.32. Following the completion of the transaction, the insider now owns 14,404 shares in the company, valued at approximately $2,018,432.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Dennis Mcmahon sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $142.65, for a total transaction of $142,650.00. Following the completion of the transaction, the director now owns 154,902 shares of the company’s stock, valued at approximately $22,096,770.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,318 shares of company stock valued at $9,856,800. 8.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SNOW. Rosenblatt Securities lowered their price target on shares of Snowflake from $200.00 to $188.00 in a research report on Friday, March 3rd. Cowen lowered their price target on shares of Snowflake from $235.00 to $225.00 in a research report on Thursday, December 1st. Wedbush assumed coverage on shares of Snowflake in a report on Wednesday, December 14th. They set a “neutral” rating and a $144.00 price objective for the company. Canaccord Genuity Group decreased their price objective on shares of Snowflake from $220.00 to $195.00 in a report on Thursday, December 1st. Finally, Stifel Nicolaus reduced their price target on shares of Snowflake from $180.00 to $150.00 in a report on Thursday, December 1st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $187.75.

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.