Hartline Investment Corp Grows Stake in Snowflake Inc. (NYSE:SNOW)

Hartline Investment Corp grew its position in Snowflake Inc. (NYSE:SNOW) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,133 shares of the company’s stock after purchasing an additional 2,656 shares during the quarter. Snowflake comprises approximately 2.4% of Hartline Investment Corp’s investment portfolio, making the stock its 12th biggest holding. Hartline Investment Corp’s holdings in Snowflake were worth $14,752,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of Snowflake by 22.8% during 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 period. AE Wealth Management LLC lifted its stake in shares of Snowflake by 12.8% during 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 period. HB Wealth Management LLC lifted its stake in shares of Snowflake by 13.8% during the third quarter. HB Wealth Management LLC now owns 2,322 shares of the company’s stock worth $355,000 after buying an additional 281 shares during the period. RFG Advisory LLC lifted its stake in shares of Snowflake by 9.9% during the third quarter. RFG Advisory LLC now owns 2,035 shares of the company’s stock worth $311,000 after buying an additional 184 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Snowflake by 123.3% during the third quarter. Exchange Traded Concepts LLC now owns 8,438 shares of the company’s stock worth $1,289,000 after buying an additional 4,660 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 12,533 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive now owns 98,172 shares of the company’s stock, valued at approximately $19,638,326.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Christopher William Degnan sold 12,533 shares of Snowflake stock in a transaction on 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 directly owns 98,172 shares of the company’s stock, valued at approximately $19,638,326.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Benoit Dageville sold 8,515 shares of Snowflake stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the sale, the insider now directly owns 55,216 shares of the company’s stock, valued at $8,627,500. The disclosure for this sale can be found here. Insiders sold 168,209 shares of company stock valued at $34,291,592 in the last 90 days. Company insiders own 8.30% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW traded up $3.82 during mid-day trading on Wednesday, reaching $154.99. 3,941,398 shares of the company were exchanged, compared to its average volume of 6,562,033. The firm has a market cap of $51.80 billion, a price-to-earnings ratio of -60.21 and a beta of 0.91. The firm’s 50-day simple moving average is $174.58 and its 200 day simple moving average 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 issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate 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. On average, research analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SNOW shares. Stifel Nicolaus decreased their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Bank of America decreased their target price on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Truist Financial decreased their target price on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Redburn Atlantic restated a “sell” rating and set a $125.00 target price (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price 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.