Sand Hill Global Advisors LLC Acquires New Shares in Snowflake Inc. (NYSE:SNOW)

Sand Hill Global Advisors LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,048 shares of the company’s stock, valued at approximately $209,000.

Other large investors also recently added to or reduced their stakes in the company. Provence Wealth Management Group acquired a new stake in shares of Snowflake in the third quarter valued at $30,000. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. M&R Capital Management Inc. raised its stake in shares of Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after acquiring an additional 100 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Snowflake by 34.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. raised its stake in shares of Snowflake by 154.8% in the third quarter. Valley National Advisers Inc. now owns 293 shares of the company’s stock valued at $45,000 after acquiring an additional 178 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Down 2.4 %

Shares of NYSE SNOW traded down $3.98 during trading on Thursday, hitting $159.36. 10,940,299 shares of the company traded hands, compared to its average volume of 6,079,717. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72. The company has a 50-day moving average price of $157.13 and a 200-day moving average price of $180.26. The firm has a market capitalization of $53.26 billion, a P/E ratio of -62.21 and a beta of 0.90.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Research analysts predict that Snowflake Inc. will post -1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the topic of several analyst reports. Needham & Company LLC reduced their price objective on Snowflake from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday. BNP Paribas raised Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Thursday, May 2nd. Wedbush reissued a “neutral” rating and issued a $210.00 target price on shares of Snowflake in a report on Wednesday. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $240.00 target price on shares of Snowflake in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.06.

Insider Activity

In other Snowflake news, Director Mark D. Mclaughlin acquired 3,030 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $165.45 per share, with a total value of $501,313.50. Following the transaction, the director now directly owns 11,687 shares in the company, valued at $1,933,614.15. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Snowflake news, CEO Sridhar Ramaswamy acquired 31,542 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the acquisition, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark D. Mclaughlin acquired 3,030 shares of the firm’s 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 in the company, valued at $1,933,614.15. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is currently owned by corporate insiders.

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.