Snowflake Inc. (NYSE:SNOW) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its stake in Snowflake Inc. (NYSE:SNOW) by 55.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,486 shares of the company’s stock after buying an additional 105,937 shares during the period. Raymond James & Associates owned 0.09% of Snowflake worth $58,802,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SNOW. Ulland Investment Advisors LLC increased its holdings in shares of Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after purchasing an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Provence Wealth Management Group bought a new position in Snowflake during the third quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Snowflake by 54.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after buying an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in Snowflake by 89.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Up 1.3 %

SNOW opened at $160.05 on Thursday. The stock’s 50 day moving average price is $195.94 and its two-hundred day moving average price is $179.43. Snowflake Inc. has a 12-month low of $134.17 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) 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 return on equity of 13.80% and a negative net margin of 29.79%. On average, sell-side analysts anticipate that Snowflake Inc. will post -1.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNOW. Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 target price on shares of Snowflake in a research note on Thursday, February 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Rosenblatt Securities decreased their price target on Snowflake from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Citigroup decreased their price target on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Finally, Monness Crespi & Hardt upgraded Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $202.50.

Insider Buying and Selling at Snowflake

In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the acquisition, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, March 18th. The stock was 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 approximately $4,457,133.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sridhar Ramaswamy purchased 31,542 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The disclosure for this purchase can be found here. Insiders have sold 184,355 shares of company stock valued at $37,679,411 in the last 90 days. 8.30% of the stock is currently owned by insiders.

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.