Signaturefd LLC Increases Stake in Snowflake Inc. (NYSE:SNOW)

Signaturefd LLC lifted its stake in Snowflake Inc. (NYSE:SNOW) by 27.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,865 shares of the company’s stock after purchasing an additional 616 shares during the quarter. Signaturefd LLC’s holdings in Snowflake were worth $570,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Ulland Investment Advisors LLC raised its position in shares of Snowflake by 270.0% in the 3rd 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 last quarter. Provence Wealth Management Group purchased a new position in Snowflake during the 3rd quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. raised its position 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. raised its position 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. raised its position 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 owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SNOW shares. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Rosenblatt Securities raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Friday, April 5th. StockNews.com cut shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Monday. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Finally, Barclays dropped their price objective on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Stock Up 2.5 %

NYSE SNOW opened at $155.01 on Thursday. Snowflake Inc. has a 52 week low of $135.26 and a 52 week high of $237.72. The business’s fifty day simple moving average is $172.95 and its 200-day simple moving average is $179.15. The firm has a market cap of $51.80 billion, a PE ratio of -60.79 and a beta of 0.91.

Snowflake (NYSE:SNOW) last posted 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 business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Research analysts expect that Snowflake Inc. will post -1.9 EPS for the current year.

Insider Activity at Snowflake

In related news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Christopher William Degnan sold 12,533 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the completion of the sale, the executive now owns 98,172 shares in the company, valued at $19,638,326.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,209 shares of company stock worth $34,291,592. Company insiders own 8.30% of the company’s stock.

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.