Financial Perspectives Inc Purchases 182 Shares of Snowflake Inc. (NYSE:SNOW)

Financial Perspectives Inc lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,634 shares of the company’s stock after purchasing an additional 182 shares during the quarter. Financial Perspectives Inc’s holdings in Snowflake were worth $325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares during the period. Winslow Capital Management LLC bought a new stake in shares of Snowflake in the third quarter valued at about $226,302,000. Vanguard Group Inc. boosted its position in shares of Snowflake by 4.0% during the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after buying an additional 743,211 shares during the period. Wellington Management Group LLP grew its holdings in shares of Snowflake by 69.9% during the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after buying an additional 623,277 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Snowflake by 19,321.5% in the 4th quarter. International Assets Investment Management LLC now owns 508,843 shares of the company’s stock valued at $101,260,000 after acquiring an additional 506,223 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the transaction, the executive vice president now owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Friday, February 9th. The stock was 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 owns 726,567 shares in the company, valued at $167,110,410. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,209 shares of company stock valued at $36,391,592. Corporate insiders own 8.30% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW traded up $3.96 during midday trading on Tuesday, hitting $151.17. 4,737,873 shares of the stock traded hands, compared to its average volume of 6,595,415. Snowflake Inc. has a one year low of $135.26 and a one year high of $237.72. The business has a 50 day moving average price of $176.10 and a two-hundred day moving average price of $179.38. The company has a market cap of $50.52 billion, a PE ratio of -59.28 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm 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%. As a group, equities research analysts forecast that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNOW. UBS Group boosted their price objective on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Needham & Company LLC dropped their target price on Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Citigroup decreased their target price on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Guggenheim upgraded Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Finally, Oppenheimer reduced their price target on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $202.00.

About Snowflake

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.