NewEdge Wealth LLC Purchases 1,488 Shares of Snowflake Inc. (NYSE:SNOW)

NewEdge Wealth LLC boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 51.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,408 shares of the company’s stock after buying an additional 1,488 shares during the quarter. NewEdge Wealth LLC’s holdings in Snowflake were worth $877,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Ulland Investment Advisors LLC increased its position in Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after purchasing an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Provence Wealth Management Group purchased a new position in Snowflake during the 3rd quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. increased its position in Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after purchasing an additional 72 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. increased its position in Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sridhar Ramaswamy bought 31,542 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The disclosure for this purchase can be found here. Insiders sold a total of 179,055 shares of company stock valued at $36,633,917 in the last three months. 8.30% of the stock is currently owned by corporate insiders.

Snowflake Trading Down 4.1 %

NYSE SNOW opened at $152.01 on Tuesday. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72. The stock has a market cap of $50.80 billion, a price-to-earnings ratio of -59.61 and a beta of 0.91. The company’s 50 day moving average is $183.70 and its two-hundred day moving average is $179.49.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Sell-side analysts forecast that Snowflake Inc. will post -1.92 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNOW. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. Royal Bank of Canada reduced their target price on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Snowflake in a research report on Tuesday, February 27th. UBS Group upped their target price on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, JMP Securities upped their target price on shares of Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.00.

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.