Snowflake Inc. (NYSE:SNOW) Stake Boosted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 9,438.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,734 shares of the company's stock after acquiring an additional 170,923 shares during the period. Los Angeles Capital Management LLC owned about 0.05% of Snowflake worth $34,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Provence Wealth Management Group bought a new stake in Snowflake in the 3rd quarter valued at $30,000. M&R Capital Management Inc. increased its position in Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company's stock valued at $40,000 after acquiring an additional 100 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company's stock worth $40,000 after buying an additional 52 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Snowflake by 54.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company's stock worth $31,000 after acquiring an additional 72 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its position in Snowflake by 89.0% during 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 during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In related news, SVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the completion of the transaction, the senior vice president now directly owns 726,567 shares in the company, valued at approximately $167,110,410. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CRO Christopher William Degnan sold 12,782 shares of the firm's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now owns 354,954 shares of the company's stock, valued at $55,571,598.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now owns 726,567 shares of the company's stock, valued at $167,110,410. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,458 shares of company stock valued at $33,785,640. 8.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Needham & Company LLC reduced their price objective on shares of Snowflake from $265.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Royal Bank of Canada reduced their target price on Snowflake from $255.00 to $246.00 and set an "outperform" rating on the stock in a report on Thursday, February 29th. Monness Crespi & Hardt upgraded shares of Snowflake from a "sell" rating to a "neutral" rating in a research report on Monday, March 18th. Raymond James boosted their price objective on shares of Snowflake from $190.00 to $223.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Finally, Truist Financial cut their target price on shares of Snowflake from $250.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.77.

Snowflake Trading Up 1.0 %

Shares of NYSE:SNOW traded up $1.55 during trading on Friday, reaching $159.32. 3,647,284 shares of the stock were exchanged, compared to its average volume of 6,370,508. The firm has a market cap of $53.24 billion, a PE ratio of -62.20 and a beta of 0.90. The stock has a 50-day moving average price of $164.60 and a 200-day moving average price of $178.82. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping 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. On average, sell-side analysts expect that Snowflake Inc. will post -1.9 earnings per share 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.

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