Cwm LLC grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 41.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 171,882 shares of the company's stock after purchasing an additional 50,601 shares during the quarter. Cwm LLC owned approximately 0.05% of Snowflake worth $19,742,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Ignite Planners LLC raised its stake in Snowflake by 31.0% in the 3rd quarter. Ignite Planners LLC now owns 2,656 shares of the company's stock valued at $305,000 after purchasing an additional 628 shares during the last quarter. Sandbox Financial Partners LLC raised its position in shares of Snowflake by 82.1% in the third quarter. Sandbox Financial Partners LLC now owns 69,566 shares of the company's stock valued at $7,990,000 after buying an additional 31,365 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Snowflake in the third quarter worth about $205,000. Azzad Asset Management Inc. ADV acquired a new position in Snowflake during the third quarter worth about $1,938,000. Finally, Red Spruce Capital LLC grew its stake in Snowflake by 1.3% during the 3rd quarter. Red Spruce Capital LLC now owns 13,227 shares of the company's stock valued at $1,519,000 after acquiring an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.
A number of research analysts have weighed in on SNOW shares. Rosenblatt Securities reissued a "buy" rating and issued a $180.00 target price on shares of Snowflake in a research note on Wednesday, October 2nd. Bank of America reduced their price objective on Snowflake from $200.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, August 16th. Wedbush dropped their target price on Snowflake from $210.00 to $140.00 and set a "neutral" rating for the company in a report on Thursday, August 22nd. Robert W. Baird reduced their price target on Snowflake from $200.00 to $165.00 and set an "outperform" rating on the stock in a report on Tuesday, August 20th. Finally, JMP Securities dropped their price objective on shares of Snowflake from $235.00 to $190.00 and set a "market outperform" rating for the company in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and a consensus target price of $174.74.
Check Out Our Latest Report on SNOW
In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 718,773 shares of the company's stock, valued at $86,252,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now directly owns 218,246 shares of the company's stock, valued at $23,998,330.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,538 shares of company stock valued at $3,449,994 over the last quarter. 7.80% of the stock is owned by insiders.
Shares of Snowflake stock opened at $123.73 on Friday. The business has a 50-day simple moving average of $116.27 and a 200-day simple moving average of $134.93. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.
Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company had revenue of $868.80 million during the quarter, compared to analysts' expectations of $851.72 million. During the same quarter in the previous year, the business posted ($0.52) EPS. The firm's revenue was up 28.9% on a year-over-year basis. As a group, equities research analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current year.
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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