Quadrant Capital Group LLC Raises Holdings in Snowflake Inc. (NYSE:SNOW)

Quadrant Capital Group LLC raised its position in Snowflake Inc. (NYSE:SNOW) by 67.5% during the fourth quarter, HoldingsChannel reports. The firm owned 355 shares of the company’s stock after purchasing an additional 143 shares during the period. Quadrant Capital Group LLC’s holdings in Snowflake were worth $71,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after buying an additional 1,496,235 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in Snowflake in the 3rd quarter valued at about $226,302,000. Trivest Advisors Ltd purchased a new position in Snowflake in the 4th quarter worth approximately $173,747,000. Vanguard Group Inc. boosted its holdings in shares of Snowflake by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after purchasing an additional 743,211 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Snowflake by 69.9% in the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after purchasing an additional 623,277 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNOW shares. Royal Bank of Canada lowered their price objective on Snowflake from $246.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, May 20th. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Macquarie decreased their target price on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Loop Capital cut their price target on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a report on Thursday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $200.64.

Snowflake Trading Up 1.0 %

NYSE:SNOW opened at $156.16 on Friday. The stock has a fifty day moving average price of $157.03 and a 200 day moving average price of $180.31. Snowflake Inc. has a 12-month low of $138.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last announced 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. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The business had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. As a group, sell-side analysts forecast that Snowflake Inc. will post -1.83 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mark D. Mclaughlin acquired 3,030 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $165.45 per share, with a total value of $501,313.50. Following the transaction, the director now owns 11,687 shares in the company, valued at approximately $1,933,614.15. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares in the company, valued at $124,504,006.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark D. Mclaughlin purchased 3,030 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $165.45 per share, with a total value of $501,313.50. Following the completion of the acquisition, the director now directly owns 11,687 shares of the company’s stock, valued at $1,933,614.15. The disclosure for this purchase can be found here. Insiders sold 62,380 shares of company stock worth $9,803,625 over the last 90 days. 8.30% of the stock is 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.