Curi RMB Capital LLC Buys 4,163 Shares of Snowflake Inc. (NYSE:SNOW)

Curi RMB Capital LLC boosted its stake in Snowflake Inc. (NYSE:SNOW) by 19.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,112 shares of the company’s stock after acquiring an additional 4,163 shares during the period. Curi RMB Capital LLC’s holdings in Snowflake were worth $2,999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Comerica Bank increased its position in shares of Snowflake by 17.2% during the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after buying an additional 4,296 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after acquiring an additional 43,062 shares during the period. Cetera Investment Advisers raised its position in shares of Snowflake by 201.5% in the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after acquiring an additional 42,563 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Snowflake in the 1st quarter valued at about $29,000. Finally, Fulton Bank N.A. boosted its position in shares of Snowflake by 17.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after purchasing an additional 228 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the business’s 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 transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 in the last three months. Company insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $129.19 on Friday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The stock’s 50-day simple moving average is $116.03 and its 200 day simple moving average is $128.90.

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

Wall Street Analysts Forecast Growth

SNOW has been the topic of several recent analyst reports. Canaccord Genuity Group dropped their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Robert W. Baird cut their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Loop Capital reduced their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Bank of America dropped their price objective on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, HSBC raised Snowflake from a “reduce” rating to a “hold” rating and boosted their target price for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $172.09.

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.