Vestmark Advisory Solutions Inc. Grows Position in Snowflake Inc. (NYSE:SNOW)

Vestmark Advisory Solutions Inc. boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 85.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,025 shares of the company’s stock after acquiring an additional 1,855 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Snowflake were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in shares of Snowflake during the 4th quarter worth about $790,000. Sequoia Financial Advisors LLC boosted its position in Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after acquiring an additional 3,152 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Snowflake in the 3rd quarter worth approximately $458,000. Glynn Capital Management LLC boosted its holdings in shares of Snowflake by 3.1% during the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after buying an additional 5,629 shares during the period. Finally, Raymond James & Associates boosted 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 purchasing an additional 105,937 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNOW has been the topic of several recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $230.00 target price on shares of Snowflake in a research note on Thursday, February 29th. Rosenblatt Securities raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Friday, April 5th. HSBC restated a “reduce” rating on shares of Snowflake in a report on Thursday, February 29th. Bank of America dropped their target price on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Finally, Barclays cut their price objective on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $202.77.

Snowflake Price Performance

SNOW stock traded up $1.55 during trading on Monday, reaching $160.87. 422,592 shares of the stock traded hands, compared to its average volume of 6,300,716. The firm has a market capitalization of $53.76 billion, a PE ratio of -62.48 and a beta of 0.90. Snowflake Inc. has a 52-week low of $138.40 and a 52-week high of $237.72. The business’s 50 day moving average price is $163.20 and its 200-day moving average price is $179.12.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share 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 firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. On average, equities research analysts predict that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Activity

In other news, CAO Emily Ho sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at $4,457,133.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 158,458 shares of company stock worth $31,585,640. 8.30% of the stock is currently owned by corporate insiders.

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.