Highland Capital Management LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Highland Capital Management LLC acquired a new stake in Snowflake Inc. (NYSE:SNOWGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,647 shares of the company’s stock, valued at approximately $1,481,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Level Financial Advisors Inc. increased its holdings in shares of Snowflake by 475.0% in the 1st quarter. Level Financial Advisors Inc. now owns 115 shares of the company’s stock valued at $26,000 after acquiring an additional 95 shares during the period. Glassman Wealth Services boosted its position in shares of Snowflake by 233.3% during the 4th quarter. Glassman Wealth Services now owns 80 shares of the company’s stock worth $27,000 after purchasing an additional 56 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Capital Advisory Group Advisory Services LLC purchased a new stake in shares of Snowflake during the 1st quarter worth $30,000. Finally, Tcwp LLC purchased a new stake in shares of Snowflake in the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

Insider Buying and Selling

In related news, CEO Frank Slootman sold 1,651 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $299,012.61. Following the transaction, the chief executive officer now directly owns 135,781 shares in the company, valued at $24,591,296.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake news, Director John Dennis Mcmahon sold 1,224 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $155.44, for a total value of $190,258.56. Following the sale, the director now directly owns 55,659 shares of the company’s stock, valued at $8,651,634.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank Slootman sold 1,651 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $299,012.61. Following the completion of the sale, the chief executive officer now directly owns 135,781 shares in the company, valued at $24,591,296.91. The disclosure for this sale can be found here. Insiders have sold 4,823 shares of company stock worth $859,968 over the last ninety days. 8.90% of the stock is owned by insiders.

Snowflake Stock Performance

Shares of SNOW opened at $171.79 on Friday. The business’s fifty day moving average price is $167.56 and its 200 day moving average price is $167.86. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last announced its quarterly earnings data on Wednesday, August 24th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.16). Snowflake had a negative return on equity of 12.57% and a negative net margin of 41.25%. The firm had revenue of $497.25 million for the quarter, compared to the consensus estimate of $466.03 million. As a group, research analysts anticipate that Snowflake Inc. will post -2 EPS for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several recent research reports. Cowen boosted their price objective on shares of Snowflake from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 25th. Raymond James upped their price objective on shares of Snowflake from $184.00 to $197.00 in a research note on Thursday, August 25th. Morgan Stanley dropped their price objective on shares of Snowflake from $295.00 to $274.00 and set an “overweight” rating for the company in a research note on Monday, August 15th. Wolfe Research upped their price objective on shares of Snowflake from $170.00 to $197.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Finally, Rosenblatt Securities dropped their price objective on shares of Snowflake from $255.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $216.67.

Snowflake Company Profile

(Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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