Spire Wealth Management Acquires 3,809 Shares of Snowflake Inc. (NYSE:SNOW)

Spire Wealth Management lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 283.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,155 shares of the company’s stock after purchasing an additional 3,809 shares during the period. Spire Wealth Management’s holdings in Snowflake were worth $995,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SNOW. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Snowflake by 3.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,244 shares of the company’s stock worth $9,051,000 after purchasing an additional 2,232 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Snowflake by 19.6% during the third quarter. Mackenzie Financial Corp now owns 22,174 shares of the company’s stock worth $3,299,000 after acquiring an additional 3,627 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Snowflake by 25.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 160,384 shares of the company’s stock valued at $24,502,000 after acquiring an additional 32,990 shares during the period. Advisor Partners II LLC increased its holdings in shares of Snowflake by 6.7% in the third quarter. Advisor Partners II LLC now owns 4,328 shares of the company’s stock worth $661,000 after acquiring an additional 270 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at approximately $365,000. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNOW has been the topic of several recent research reports. Redburn Atlantic reissued a “sell” rating and issued a $125.00 price target (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Stifel Nicolaus decreased their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Raymond James lifted their price target on Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Mizuho reaffirmed a “buy” rating and set a $205.00 price target (down from $255.00) on shares of Snowflake in a report on Thursday, February 29th. Finally, Citigroup cut their target price on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.77.

Snowflake Price Performance

NYSE:SNOW opened at $157.72 on Thursday. Snowflake Inc. has a 1-year low of $138.40 and a 1-year high of $237.72. The company has a 50-day moving average of $160.35 and a 200 day moving average of $179.27. The firm has a market cap of $52.71 billion, a PE ratio of -61.85 and a beta of 0.90.

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

Insider Activity

In other news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction dated Monday, March 25th. The stock was acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the purchase, the chief executive officer now owns 31,542 shares in the company, valued at approximately $5,000,037.84. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Grzegorz Czajkowski sold 683 shares of the company’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 sale, the executive vice president now owns 86,208 shares in the company, valued at $13,915,695.36. The disclosure for this sale can be found here. Insiders have sold 72,380 shares of company stock valued at $12,206,900 over the last ninety days. 8.30% of the stock is currently owned by insiders.

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.