Advisor Group Holdings Inc. grew its holdings in Snowflake Inc. (NYSE:SNOW – Get Rating) by 55.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,385 shares of the company's stock after purchasing an additional 13,365 shares during the quarter. Advisor Group Holdings Inc.'s holdings in Snowflake were worth $8,158,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Yousif Capital Management LLC acquired a new stake in shares of Snowflake during the fourth quarter valued at $966,000. D.A. Davidson & CO. grew its holdings in shares of Snowflake by 6.7% during the fourth quarter. D.A. Davidson & CO. now owns 2,315 shares of the company's stock worth $784,000 after buying an additional 145 shares in the last quarter. CWM LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $301,000. Robeco Institutional Asset Management B.V. raised its position in shares of Snowflake by 3.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 50,185 shares of the company's stock valued at $16,998,000 after buying an additional 1,658 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $5,793,000. 76.67% of the stock is owned by hedge funds and other institutional investors.
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SNOW opened at $160.76 on Friday. The firm has a market capitalization of $50.58 billion, a P/E ratio of -76.19 and a beta of 1.30. The stock has a fifty day moving average of $139.96 and a 200-day moving average of $191.00. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $405.00.
Snowflake (NYSE:SNOW – Get Rating) last announced its quarterly earnings data on Wednesday, May 25th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.13). Snowflake had a negative return on equity of 12.39% and a negative net margin of 45.48%. The business had revenue of $422.37 million during the quarter, compared to analysts' expectations of $413.01 million. During the same period in the prior year, the company posted ($0.69) earnings per share. The firm's revenue was up 84.5% on a year-over-year basis. On average, analysts expect that Snowflake Inc. will post -2.1 earnings per share for the current fiscal year.Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Snowflake from $300.00 to $175.00 in a research note on Thursday, May 26th. Mizuho lowered their price target on Snowflake from $225.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 26th. Oppenheimer cut their price objective on shares of Snowflake from $280.00 to $230.00 and set an "outperform" rating on the stock in a report on Thursday, May 26th. Raymond James assumed coverage on shares of Snowflake in a report on Thursday, June 2nd. They issued an "outperform" rating and a $184.00 target price for the company. Finally, UBS Group cut their price target on shares of Snowflake from $260.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday, May 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $219.27.
Insider Activity at Snowflake
In other Snowflake news, CEO Frank Slootman sold 1,727 shares of the stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $136.18, for a total value of $235,182.86. Following the completion of the sale, the chief executive officer now owns 138,551 shares in the company, valued at approximately $18,867,875.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director John Dennis Mcmahon sold 1,224 shares of Snowflake stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $155.44, for a total transaction of $190,258.56. Following the completion of the sale, the director now directly owns 55,659 shares in the company, valued at approximately $8,651,634.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank Slootman sold 1,727 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $136.18, for a total value of $235,182.86. Following the completion of the transaction, the chief executive officer now owns 138,551 shares in the company, valued at approximately $18,867,875.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,678 shares of company stock valued at $524,444. Corporate insiders own 8.90% of the company's stock.
Snowflake Profile
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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.
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