NewSquare Capital LLC Purchases Shares of 17,531 Snowflake Inc. (NYSE:SNOW)

NewSquare Capital LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 17,531 shares of the company’s stock, valued at approximately $3,489,000.

Several other large investors also recently modified their holdings of the stock. Rakuten Securities Inc. bought a new position in shares of Snowflake in the 4th quarter valued at about $790,000. Sequoia Financial Advisors LLC lifted its stake in Snowflake by 209.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after purchasing an additional 3,152 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Snowflake during the 3rd quarter worth approximately $458,000. Glynn Capital Management LLC boosted its position in Snowflake by 3.1% during the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after purchasing an additional 5,629 shares during the period. Finally, Raymond James & Associates raised its holdings in Snowflake by 55.9% in the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after acquiring an additional 105,937 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Insider Transactions at Snowflake

In other news, CRO Christopher William Degnan sold 12,533 shares of the business’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 transaction of $2,507,101.32. Following the completion of the sale, the executive now owns 98,172 shares in the company, valued at approximately $19,638,326.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Grzegorz Czajkowski sold 683 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Christopher William Degnan sold 12,533 shares of the stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,209 shares of company stock valued at $34,291,592. Corporate insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on SNOW shares. Wedbush raised their target price on shares of Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Truist Financial dropped their target price on Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Mizuho restated a “buy” rating and set a $205.00 price target (down from $255.00) on shares of Snowflake in a report on Thursday, February 29th. KeyCorp began coverage on shares of Snowflake in a report on Thursday, April 11th. They issued an “overweight” rating and a $185.00 price objective for the company. Finally, HSBC reiterated a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. Three equities research 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 company’s stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $2.44 during trading on Wednesday, reaching $153.61. The stock had a trading volume of 2,552,828 shares, compared to its average volume of 6,544,069. The stock has a market cap of $51.34 billion, a PE ratio of -60.21 and a beta of 0.91. The business has a fifty day moving average price of $174.58 and a 200-day moving average price of $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 results on Wednesday, February 28th. The company reported ($0.44) earnings per share 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 business had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Sell-side analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current year.

About Snowflake

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.