Vident Advisory LLC Purchases 2,580 Shares of Snowflake Inc. (NYSE:SNOW)

Vident Advisory LLC increased its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 56.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,130 shares of the company's stock after buying an additional 2,580 shares during the period. Vident Advisory LLC's holdings in Snowflake were worth $1,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SNOW. Stonebridge Financial Group LLC bought a new position in Snowflake in the 4th quarter worth approximately $29,000. West Paces Advisors Inc. bought a new position in Snowflake in the 4th quarter valued at $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake in the 4th quarter valued at $31,000. Quadrant Capital Group LLC boosted its holdings in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after purchasing an additional 91 shares during the period. Finally, Colonial Trust Co SC bought a new position in Snowflake in the 4th quarter valued at $33,000. 65.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on SNOW shares. DA Davidson raised their price target on shares of Snowflake from $200.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. HSBC downgraded shares of Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Macquarie raised their price objective on shares of Snowflake from $160.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Raymond James restated an "outperform" rating and set a $212.00 price objective (up previously from $196.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $217.33.

Insider Activity

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 849,779 shares of company stock valued at $158,838,193 over the last three months. Insiders own 7.80% of the company's stock.

Snowflake Stock Down 1.1%

Snowflake stock traded down $2.25 during trading hours on Thursday, hitting $202.16. The stock had a trading volume of 1,474,674 shares, compared to its average volume of 6,459,005. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $66.73 billion, a P/E ratio of -59.56 and a beta of 1.11. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $209.80. The stock's 50-day moving average price is $161.99 and its 200-day moving average price is $165.25.

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

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.