Exchange Traded Concepts LLC Buys 2,155 Shares of Snowflake Inc. (NYSE:SNOW)

Exchange Traded Concepts LLC boosted its position in shares of Snowflake Inc. (NYSE:SNOWFree Report) by 25.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,593 shares of the company’s stock after acquiring an additional 2,155 shares during the period. Exchange Traded Concepts LLC’s holdings in Snowflake were worth $2,108,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Snowflake in the fourth quarter valued at $477,435,000. FMR LLC boosted its position in shares of Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC bought a new stake in Snowflake in the third quarter valued at about $226,302,000. Renaissance Technologies LLC acquired a new position in Snowflake in the first quarter worth about $176,499,000. Finally, Vanguard Group Inc. boosted its holdings in Snowflake by 4.0% during the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock valued at $2,968,152,000 after purchasing an additional 743,211 shares in the last quarter. Institutional investors and hedge funds own 63.74% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Snowflake from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, November 30th. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Friday. Barclays cut their price target on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. decreased their price objective on shares of Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Finally, Raymond James boosted their target price on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.85.

Get Our Latest Stock Report on Snowflake

Snowflake Stock Performance

Shares of NYSE SNOW opened at $156.97 on Friday. Snowflake Inc. has a 52-week low of $131.62 and a 52-week high of $237.72. The stock has a market cap of $51.69 billion, a P/E ratio of -61.56 and a beta of 0.94. The firm has a 50 day moving average price of $201.42 and a 200 day moving average price of $179.42.

Snowflake (NYSE:SNOWGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.80%. The company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Analysts predict that Snowflake Inc. will post -1.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the sale, the insider now directly owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $190.00, for a total value of $285,000.00. Following the completion of the sale, the senior vice president now owns 756,567 shares in the company, valued at $143,747,730. The disclosure for this sale can be found here. Insiders sold 390,440 shares of company stock worth $80,383,938 over the last ninety days. 8.30% of the stock is currently owned by corporate insiders.

Snowflake Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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