Livforsakringsbolaget Skandia Omsesidigt Buys 342 Shares of Snowflake Inc. (NYSE:SNOW)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Snowflake Inc. (NYSE:SNOW) by 114.0% in the 4th quarter, HoldingsChannel reports. The firm owned 642 shares of the company’s stock after acquiring an additional 342 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Snowflake were worth $128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in shares of Snowflake by 79.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,293 shares of the company’s stock worth $984,000 after acquiring an additional 1,897 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of Snowflake during the first quarter worth about $2,880,000. Panagora Asset Management Inc. increased its position in shares of Snowflake by 24.8% during the first quarter. Panagora Asset Management Inc. now owns 2,718 shares of the company’s stock worth $623,000 after acquiring an additional 540 shares in the last quarter. Raymond James Trust N.A. bought a new stake in shares of Snowflake during the first quarter worth about $362,000. Finally, Cibc World Market Inc. increased its position in shares of Snowflake by 37.2% during the first quarter. Cibc World Market Inc. now owns 13,959 shares of the company’s stock worth $3,198,000 after acquiring an additional 3,783 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Price Performance

Shares of SNOW opened at $148.45 on Friday. Snowflake Inc. has a 52 week low of $135.26 and a 52 week high of $237.72. The business’s 50 day moving average price is $179.56 and its 200-day moving average price is $179.04.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. On average, analysts forecast that Snowflake Inc. will post -1.9 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Oppenheimer cut their price target on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Barclays cut their price target on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Morgan Stanley restated an “equal weight” rating and set a $175.00 price target (down from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Royal Bank of Canada dropped their target price on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Finally, Piper Sandler restated an “overweight” rating and set a $250.00 price target on shares of Snowflake in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Insider Buying and Selling at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 2,346 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total transaction of $476,894.88. Following the completion of the sale, the executive now directly owns 102,007 shares in the company, valued at approximately $20,735,982.96. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CRO Christopher William Degnan sold 2,346 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the sale, the executive now directly owns 102,007 shares in the company, valued at approximately $20,735,982.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the senior vice president now owns 736,567 shares of the company’s stock, valued at $162,044,740. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,555 shares of company stock worth $36,868,487. Insiders own 8.30% 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.