Snowflake Inc. (NYSE:SNOW) Stake Increased by Lindbrook Capital LLC

Lindbrook Capital LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 700 shares of the company’s stock after buying an additional 108 shares during the period. Lindbrook Capital LLC’s holdings in Snowflake were worth $139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNOW. International Assets Investment Management LLC increased its stake in shares of Snowflake by 22.8% in the third quarter. International Assets Investment Management LLC now owns 2,620 shares of the company’s stock worth $387,000 after buying an additional 486 shares during the last quarter. AE Wealth Management LLC increased its stake in shares of Snowflake by 12.8% in the third quarter. AE Wealth Management LLC now owns 14,790 shares of the company’s stock worth $2,259,000 after buying an additional 1,674 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Snowflake by 13.8% in the third quarter. HB Wealth Management LLC now owns 2,322 shares of the company’s stock worth $355,000 after purchasing an additional 281 shares during the period. RFG Advisory LLC boosted its holdings in Snowflake by 9.9% in the third quarter. RFG Advisory LLC now owns 2,035 shares of the company’s stock worth $311,000 after purchasing an additional 184 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in Snowflake by 123.3% in the third quarter. Exchange Traded Concepts LLC now owns 8,438 shares of the company’s stock worth $1,289,000 after purchasing an additional 4,660 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $151.17 on Wednesday. The stock’s 50-day moving average price is $174.58 and its two-hundred day moving average price is $179.32. Snowflake Inc. has a 1 year low of $135.26 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, equities analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, CEO Frank Slootman sold 86,078 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the sale, the chief executive officer now owns 180,143 shares in the company, valued at approximately $40,555,593.59. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Snowflake news, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the transaction, the chief executive officer now owns 180,143 shares of the company’s stock, valued at approximately $40,555,593.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,533 shares of Snowflake stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $200.04, for a total value of $2,507,101.32. Following the transaction, the executive now directly owns 98,172 shares in the company, valued at approximately $19,638,326.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,209 shares of company stock worth $34,291,592. Company insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SNOW. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Snowflake in a report on Thursday, February 29th. Citigroup decreased their price objective on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Redburn Atlantic reaffirmed a “sell” rating and issued a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Finally, Stifel Nicolaus decreased their price objective on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $202.00.

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.