CloudAlpha Capital Management Limited Hong Kong lifted its position in Snowflake Inc. (NYSE:SNOW – Get Rating) by 95.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,800 shares of the company’s stock after acquiring an additional 28,700 shares during the quarter. Snowflake accounts for 1.1% of CloudAlpha Capital Management Limited Hong Kong’s portfolio, making the stock its 8th largest position. CloudAlpha Capital Management Limited Hong Kong’s holdings in Snowflake were worth $8,440,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Snowflake by 25.7% in the 3rd quarter. BlackRock Inc. now owns 12,567,822 shares of the company’s stock worth $2,136,029,000 after buying an additional 2,569,953 shares during the period. Vanguard Group Inc. increased its position in Snowflake by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 17,293,889 shares of the company’s stock valued at $2,939,269,000 after purchasing an additional 1,327,410 shares during the period. State Street Corp increased its position in Snowflake by 30.6% during the 3rd quarter. State Street Corp now owns 5,657,938 shares of the company’s stock valued at $961,623,000 after purchasing an additional 1,324,033 shares during the period. Renaissance Technologies LLC purchased a new position in Snowflake during the 1st quarter valued at about $176,499,000. Finally, Bank of Montreal Can increased its position in Snowflake by 11,112.4% during the 4th quarter. Bank of Montreal Can now owns 761,993 shares of the company’s stock valued at $109,376,000 after purchasing an additional 755,197 shares during the period. Institutional investors own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Rosenblatt Securities lowered their target price on Snowflake from $200.00 to $188.00 in a report on Friday, March 3rd. Mizuho dropped their price objective on Snowflake from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, March 2nd. TD Cowen cut their target price on Snowflake from $225.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Snowflake from $185.00 to $170.00 in a research note on Monday, January 23rd. Finally, Raymond James cut their target price on Snowflake from $180.00 to $170.00 and set an “outperform” rating on the stock in a research note on Thursday, March 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $184.36.

Snowflake Trading Down 3.9 %

Snowflake stock traded down $5.50 during mid-day trading on Tuesday, hitting $137.01. The company had a trading volume of 1,524,017 shares, compared to its average volume of 5,493,288. The company has a market capitalization of $44.53 billion, a price-to-earnings ratio of -57.00 and a beta of 0.75. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $205.66. The company’s fifty day moving average is $145.25 and its 200-day moving average is $147.99.

Snowflake (NYSE:SNOW – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12). The firm had revenue of $589.01 million for the quarter, compared to analyst estimates of $571.57 million. Snowflake had a negative return on equity of 13.87% and a negative net margin of 38.57%. As a group, sell-side analysts expect that Snowflake Inc. will post -1.63 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, Director John Dennis Mcmahon sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $142.65, for a total transaction of $142,650.00. Following the sale, the director now owns 154,902 shares of the company’s stock, valued at approximately $22,096,770.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Benoit Dageville sold 6,591 shares of the business’s stock in a transaction on Monday, April 10th. The shares were sold at an average price of $143.34, for a total value of $944,753.94. Following the completion of the sale, the insider now owns 43,063 shares of the company’s stock, valued at approximately $6,172,650.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dennis Mcmahon sold 1,000 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $142.65, for a total transaction of $142,650.00. Following the completion of the sale, the director now directly owns 154,902 shares of the company’s stock, valued at approximately $22,096,770.30. The disclosure for this sale can be found here. Insiders have sold 265,346 shares of company stock valued at $36,985,490 in the last 90 days. 8.90% of the stock is currently owned by company insiders.

Snowflake Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company’s 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. Its platform is used by various organizations of sizes in a range of industries.

Further Reading

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