Raymond James Trust N.A. increased its position in Snowflake Inc. (NYSE:SNOW – Get Rating) by 154.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,028 shares of the company's stock after acquiring an additional 2,445 shares during the period. Raymond James Trust N.A.'s holdings in Snowflake were worth $560,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its position in Snowflake by 27.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,247 shares of the company's stock valued at $5,556,000 after buying an additional 5,260 shares in the last quarter. Nordea Investment Management AB grew its position in Snowflake by 4.5% in the 1st quarter. Nordea Investment Management AB now owns 148,058 shares of the company's stock valued at $34,591,000 after buying an additional 6,380 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Snowflake by 25.5% during the 1st quarter. Wedbush Securities Inc. now owns 1,650 shares of the company's stock valued at $378,000 after purchasing an additional 335 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Snowflake by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 13,338 shares of the company's stock valued at $2,287,000 after purchasing an additional 93 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of Snowflake by 2.7% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 12,690 shares of the company's stock valued at $4,299,000 after purchasing an additional 336 shares in the last quarter. Institutional investors and hedge funds own 66.74% of the company's stock.
Get Snowflake alerts:Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reduced their price objective on shares of Snowflake from $255.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, August 25th. Needham & Company LLC assumed coverage on shares of Snowflake in a research report on Friday, September 16th. They set a "buy" rating and a $240.00 price objective for the company. Wolfe Research raised their price objective on shares of Snowflake from $170.00 to $197.00 and gave the company an "outperform" rating in a research report on Thursday, August 25th. Truist Financial raised their price objective on shares of Snowflake from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, August 25th. Finally, Cowen upped their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company an "outperform" rating in a research note on Thursday, August 25th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $216.67.
Snowflake Stock Up 0.2 %
Shares of SNOW opened at $172.13 on Monday. Snowflake Inc. has a twelve month low of $110.26 and a twelve month high of $405.00. The firm's 50 day moving average price is $168.04 and its 200 day moving average price is $167.23.Snowflake (NYSE:SNOW – Get Rating) last announced its quarterly earnings results on Wednesday, August 24th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.16). Snowflake had a negative net margin of 41.25% and a negative return on equity of 12.57%. The company had revenue of $497.25 million for the quarter, compared to analyst estimates of $466.03 million. As a group, equities analysts forecast that Snowflake Inc. will post -2 earnings per share for the current fiscal year.
Insider Buying and Selling at Snowflake
In other Snowflake news, Director John Dennis Mcmahon sold 1,224 shares of the stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $155.44, for a total transaction of $190,258.56. Following the transaction, the director now owns 55,659 shares in the company, valued at $8,651,634.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John Dennis Mcmahon sold 1,224 shares of the firm's stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $155.44, for a total value of $190,258.56. Following the sale, the director now owns 55,659 shares in the company, valued at $8,651,634.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Benoit Dageville sold 724 shares of the firm's stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $131,123.64. Following the completion of the sale, the insider now owns 15,512 shares in the company, valued at approximately $2,809,378.32. The disclosure for this sale can be found here. Insiders have sold a total of 4,823 shares of company stock worth $859,968 over the last 90 days. 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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