Snowflake Inc. (NYSE:SNOW) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 340,566 shares of the company’s stock after acquiring an additional 4,650 shares during the quarter. Victory Capital Management Inc.’s holdings in Snowflake were worth $67,773,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in shares of Snowflake by 6.2% in the third quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock worth $8,152,000 after buying an additional 3,124 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Snowflake by 28.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 89,735 shares of the company’s stock valued at $13,709,000 after acquiring an additional 19,745 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of Snowflake by 139.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,818 shares of the company’s stock valued at $736,000 after acquiring an additional 2,809 shares in the last quarter. Stratos Wealth Advisors LLC acquired a new position in Snowflake in the 3rd quarter worth approximately $398,000. Finally, Bank of New York Mellon Corp grew its position in Snowflake by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,668,797 shares of the company’s stock worth $254,942,000 after purchasing an additional 79,825 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Redburn Atlantic reaffirmed a “sell” rating and set a $125.00 target price (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Thursday. Wedbush raised their price target on shares of Snowflake from $144.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $202.77.

Snowflake Stock Up 1.0 %

Shares of NYSE:SNOW opened at $159.32 on Friday. The company has a market cap of $53.24 billion, a price-to-earnings ratio of -62.48 and a beta of 0.90. The business has a 50 day moving average price of $163.20 and a 200 day moving average price of $178.80. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly 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. The company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the sale, the senior vice president now directly owns 726,567 shares in the company, valued at approximately $167,110,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the sale, the senior vice president now directly owns 726,567 shares in the company, valued at $167,110,410. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benoit Dageville sold 8,515 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares in the company, valued at approximately $8,627,500. The disclosure for this sale can be found here. Insiders sold a total of 168,458 shares of company stock worth $33,785,640 in the last ninety days. 8.30% of the stock is currently owned by insiders.

Snowflake Company 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.