Telemus Capital LLC Increases Position in Snowflake Inc. (NYSE:SNOW)

Telemus Capital LLC grew its stake in Snowflake Inc. (NYSE:SNOW) by 12.9% during the fourth quarter, HoldingsChannel reports. The fund owned 2,687 shares of the company’s stock after acquiring an additional 308 shares during the quarter. Telemus Capital LLC’s holdings in Snowflake were worth $535,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ulland Investment Advisors LLC grew its stake in Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after buying an additional 135 shares during the last quarter. Provence Wealth Management Group purchased a new position in Snowflake during the 3rd quarter worth $30,000. Whittier Trust Co. of Nevada Inc. grew its stake in Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after buying an additional 72 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its stake in Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Finally, M&R Capital Management Inc. grew its stake in Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after buying an additional 100 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now directly owns 28,393 shares in the company, valued at $4,457,133.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,100,000.00. Following the sale, the senior vice president now directly owns 746,567 shares in the company, valued at approximately $156,779,070. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,209 shares of company stock valued at $36,391,592. Insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of several research analyst reports. HSBC reiterated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Guggenheim upgraded Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Monness Crespi & Hardt upgraded Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. Evercore ISI dropped their price target on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Finally, Citigroup dropped their price target on Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Price Performance

Shares of Snowflake stock opened at $147.21 on Tuesday. Snowflake Inc. has a 1 year low of $135.26 and a 1 year high of $237.72. The company’s fifty day moving average is $176.10 and its two-hundred day moving average is $179.38.

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, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. On average, sell-side analysts anticipate that Snowflake Inc. will post -1.9 earnings per share for the current year.

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.