Signaturefd LLC Has $570,000 Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Signaturefd LLC lifted its stake in Snowflake Inc. (NYSE:SNOW) by 27.4% during the fourth quarter, HoldingsChannel reports. 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.

A number of other hedge funds have also modified their holdings of the stock. Powell Investment Advisors LLC acquired a new position in shares of Snowflake in the fourth quarter worth $260,000. Lindbrook Capital LLC increased its stake in shares of Snowflake by 18.2% in the fourth quarter. Lindbrook Capital LLC now owns 700 shares of the company’s stock worth $139,000 after acquiring an additional 108 shares during the last quarter. abrdn plc increased its position in Snowflake by 53.4% during the fourth quarter. abrdn plc now owns 174,390 shares of the company’s stock worth $34,704,000 after buying an additional 60,710 shares during the last quarter. Vantage Investment Partners LLC increased its position in Snowflake by 43.9% during the fourth quarter. Vantage Investment Partners LLC now owns 41,001 shares of the company’s stock worth $8,159,000 after buying an additional 12,513 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS acquired a new position in Snowflake during the fourth quarter worth $468,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Trading Up 2.5 %

NYSE:SNOW opened at $155.01 on Thursday. Snowflake Inc. has a 1 year low of $135.26 and a 1 year high of $237.72. The firm has a 50 day moving average of $172.95 and a 200-day moving average of $179.15. The stock has a market capitalization of $51.80 billion, a P/E ratio of -60.79 and a beta of 0.91.

Snowflake (NYSE:SNOW) last posted 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. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. As a group, analysts forecast that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Activity

In related news, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now owns 726,567 shares of the company’s stock, valued at $167,110,410. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the completion of the sale, the senior vice president now directly owns 726,567 shares of the company’s stock, valued at approximately $167,110,410. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,209 shares of company stock worth $34,291,592. Insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SNOW shares. Macquarie raised shares of Snowflake from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Barclays lowered their target price on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Oppenheimer lowered their target price on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Finally, UBS Group raised their price target on Snowflake from $185.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently 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.