Snowflake Inc. (NYSE:SNOW) Shares Bought by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP raised its holdings in Snowflake Inc. (NYSE:SNOW) by 49.8% during the third quarter, Holdings Channel.com reports. The firm owned 23,794 shares of the company’s stock after purchasing an additional 7,914 shares during the period. Baker Avenue Asset Management LP’s holdings in Snowflake were worth $2,733,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Covestor Ltd raised its holdings in Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after buying an additional 70 shares during the period. Modus Advisors LLC raised its stake in shares of Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the period. Catalyst Private Wealth LLC raised its stake in shares of Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after acquiring an additional 104 shares during the period. Iron Gate Global Advisors LLC lifted its holdings in shares of Snowflake by 0.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock worth $1,878,000 after acquiring an additional 105 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is owned by insiders.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $120.89 on Monday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The firm has a market capitalization of $40.52 billion, a P/E ratio of -39.51 and a beta of 0.83. The company’s fifty day moving average price is $115.15 and its 200 day moving average price is $129.32.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.52) EPS. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

Analyst Ratings Changes

SNOW has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $165.00 target price on shares of Snowflake in a research report on Thursday, August 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Canaccord Genuity Group decreased their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Evercore ISI dropped their target price on Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Citigroup cut their price target on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.56.

Snowflake Company 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.