Vident Advisory LLC Has $1.10 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Vident Advisory LLC lifted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 56.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,130 shares of the company's stock after purchasing an additional 2,580 shares during the quarter. Vident Advisory LLC's holdings in Snowflake were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the 4th quarter worth about $29,000. West Paces Advisors Inc. acquired a new position in Snowflake in the fourth quarter worth approximately $31,000. Spurstone Advisory Services LLC acquired a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC grew its position in Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new position in shares of Snowflake during the 4th quarter worth $33,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

NYSE SNOW traded down $2.06 during trading hours on Wednesday, reaching $204.29. 4,336,356 shares of the company's stock were exchanged, compared to its average volume of 6,478,268. The firm has a fifty day moving average of $161.07 and a 200-day moving average of $164.98. Snowflake Inc. has a one year low of $107.13 and a one year high of $209.46. The stock has a market cap of $67.44 billion, a PE ratio of -60.26 and a beta of 1.11. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The business's revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup reiterated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. UBS Group upped their price target on Snowflake from $200.00 to $210.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Wall Street Zen raised Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group lifted their price target on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.33.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 1,783 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the sale, the director now directly owns 192,511 shares of the company's stock, valued at approximately $28,345,319.64. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at $102,186,956.25. This trade represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 356,963 shares of company stock worth $58,204,058 in the last 90 days. Corporate insiders own 7.80% of the company's stock.

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.