Cerity Partners LLC Acquires 12,557 Shares of Snowflake Inc. (NYSE:SNOW)

Cerity Partners LLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 46.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,586 shares of the company’s stock after purchasing an additional 12,557 shares during the period. Cerity Partners LLC’s holdings in Snowflake were worth $7,878,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SNOW. Norges Bank purchased a new stake in Snowflake in the 4th quarter worth about $477,435,000. FMR LLC increased its holdings in Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in Snowflake in the 3rd quarter worth about $226,302,000. Renaissance Technologies LLC purchased a new stake in Snowflake in the 1st quarter worth about $176,499,000. Finally, Vanguard Group Inc. increased its holdings in Snowflake by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after acquiring an additional 743,211 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of several recent research reports. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Rosenblatt Securities raised Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a report on Friday, April 5th. Raymond James lifted their target price on Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Barclays reduced their target price on Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Finally, Bank of America reduced their target price on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Insider Buying and Selling at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,055 shares of company stock worth $36,633,917. 8.30% of the stock is currently owned by insiders.

Snowflake Trading Down 4.1 %

Shares of SNOW stock opened at $152.01 on Tuesday. Snowflake Inc. has a fifty-two week low of $135.26 and a fifty-two week high of $237.72. The stock has a 50 day moving average price of $183.70 and a two-hundred day moving average price of $179.49.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. On average, analysts predict that Snowflake Inc. will post -1.92 earnings per share for the current year.

Snowflake Profile

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, as well as applies artificial intelligence (AI) for solving business problems.