Highland Capital Management LLC Buys 366 Shares of Snowflake Inc. (NYSE:SNOW)

Highland Capital Management LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 5.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 6,988 shares of the company’s stock after acquiring an additional 366 shares during the period. Highland Capital Management LLC’s holdings in Snowflake were worth $1,129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SNOW. Accent Capital Management LLC bought a new stake in Snowflake in the 4th quarter worth about $25,000. FinTrust Capital Advisors LLC raised its position in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the last quarter. Riverview Trust Co purchased a new position in Snowflake in the 1st quarter worth about $31,000. M&R Capital Management Inc. raised its position in Snowflake by 100.0% in 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. Finally, Hartford Financial Management Inc. purchased a new position in Snowflake in the 1st quarter worth about $32,000. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $2,144,700.00. Following the sale, the executive vice president now owns 733,773 shares in the company, valued at $104,914,863.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the transaction, the executive vice president now owns 733,773 shares in the company, valued at $104,914,863.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now owns 63,222 shares in the company, valued at approximately $8,112,014.82. The disclosure for this sale can be found here. Insiders have sold a total of 534,960 shares of company stock worth $67,198,020 over the last quarter. Company insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SNOW shares. Piper Sandler decreased their target price on Snowflake from $240.00 to $165.00 and set an “overweight” rating for the company in a research report on Friday. Scotiabank reduced their price target on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 23rd. Wedbush reaffirmed a “neutral” rating and set a $210.00 price target on shares of Snowflake in a research report on Wednesday, June 5th. Oppenheimer reaffirmed an “outperform” rating and set a $220.00 price target on shares of Snowflake in a research report on Thursday, May 23rd. Finally, Macquarie reduced their price target on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.31.

Snowflake Trading Down 1.8 %

NYSE:SNOW traded down $2.43 during midday trading on Friday, hitting $135.75. 8,103,603 shares of the company traded hands, compared to its average volume of 6,570,266. The firm’s fifty day moving average is $142.81 and its 200-day moving average is $169.23. Snowflake Inc. has a 12-month low of $122.60 and a 12-month high of $237.72. The firm has a market capitalization of $45.45 billion, a P/E ratio of -48.48 and a beta of 0.85.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The business had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. On average, research analysts expect that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

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.