Snowflake Inc. (NYSE:SNOW) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,298 shares of the company's stock after purchasing an additional 30,518 shares during the period. Daiwa Securities Group Inc. owned about 0.08% of Snowflake worth $50,008,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ulland Investment Advisors LLC increased its position in Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company's stock valued at $28,000 after acquiring an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Snowflake by 333.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company's stock valued at $29,000 after acquiring an additional 100 shares during the period. Provence Wealth Management Group purchased a new stake in Snowflake in the 3rd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Snowflake by 54.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company's stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its holdings in Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Down 1.0 %

Shares of SNOW stock traded down $1.50 on Wednesday, reaching $148.80. 3,759,043 shares of the stock were exchanged, compared to its average volume of 6,717,739. The stock has a market cap of $49.73 billion, a P/E ratio of -58.35 and a beta of 0.91. The firm has a 50 day moving average of $182.44 and a two-hundred day moving average of $179.47. Snowflake Inc. has a 1-year low of $135.26 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. On average, equities research analysts predict that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Benoit Dageville sold 689 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now directly owns 70,665 shares in the company, valued at approximately $11,406,744.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,100,000.00. Following the sale, the senior vice president now directly owns 746,567 shares in the company, valued at approximately $156,779,070. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 689 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the sale, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The disclosure for this sale can be found here. In the last three months, insiders sold 180,555 shares of company stock valued at $36,868,487. Company insiders own 8.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SNOW shares. Barclays lowered their price objective on Snowflake from $198.00 to $188.00 and set an "equal weight" rating on the stock in a report on Friday, March 1st. Macquarie raised Snowflake from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $182.00 to $205.00 in a research note on Thursday, February 29th. Stifel Nicolaus decreased their price target on Snowflake from $235.00 to $220.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. KeyCorp began coverage on Snowflake in a research note on Thursday, April 11th. They set an "overweight" rating and a $185.00 price target on the stock. Finally, Needham & Company LLC decreased their price target on Snowflake from $265.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $202.00.

Snowflake Company 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.

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