Institute for Wealth Management LLC. Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

Institute for Wealth Management LLC. increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,283 shares of the company’s stock after acquiring an additional 119 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Snowflake were worth $852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNOW. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of 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 purchasing an additional 100 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Snowflake by 822.2% in the first quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock valued at $38,000 after acquiring an additional 148 shares during the period. Ulland Investment Advisors LLC grew its position in shares of Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after acquiring an additional 135 shares during the last quarter. Provence Wealth Management Group acquired a new position in shares of Snowflake in the 3rd quarter valued at $30,000. Finally, M&R Capital Management Inc. raised 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 purchasing an additional 100 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Down 2.0 %

SNOW opened at $145.45 on Friday. The firm has a market cap of $48.61 billion, a P/E ratio of -57.04 and a beta of 0.91. The business’s fifty day simple moving average is $177.80 and its 200 day simple moving average is $179.00. Snowflake Inc. has a 52 week low of $135.26 and a 52 week high of $237.72.

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

Wall Street Analyst Weigh In

A number of research firms have commented on SNOW. Barclays dropped their price objective on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $182.00 to $205.00 in a research note on Thursday, February 29th. Bank of America lowered their target price on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Wedbush upped their price target on Snowflake from $144.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $202.00.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Benoit Dageville sold 689 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, 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 is available at this hyperlink. Also, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,555 shares of company stock valued at $36,868,487. Company insiders own 8.30% of the company’s stock.

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.