Snowflake Inc. (NYSE:SNOW) Position Boosted by GM Advisory Group LLC

GM Advisory Group LLC increased its holdings in Snowflake Inc. (NYSE:SNOW) by 24.0% during the third quarter, Holdings Channel reports. The firm owned 4,418 shares of the company’s stock after purchasing an additional 854 shares during the period. GM Advisory Group LLC’s holdings in Snowflake were worth $507,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Covestor Ltd increased its stake in Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after purchasing an additional 70 shares in the last quarter. Modus Advisors LLC increased its position in shares of Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after acquiring an additional 94 shares in the last quarter. Catalyst Private Wealth LLC raised its holdings in shares of Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after acquiring an additional 104 shares during the period. Iron Gate Global Advisors LLC raised its holdings in shares of Snowflake by 0.9% during the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after acquiring an additional 105 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Snowflake by 30.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after acquiring an additional 108 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is owned by insiders.

Snowflake Trading Down 2.3 %

Shares of SNOW opened at $167.48 on Friday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The business’s fifty day moving average is $120.06 and its 200-day moving average is $128.22.

Snowflake (NYSE:SNOW) last issued its 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 return on equity of 22.01% and a negative net margin of 33.02%. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter in the previous year, the firm earned ($0.52) earnings per share. The business’s quarterly revenue was up 28.9% on a year-over-year basis. Research analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current year.

Analyst Ratings Changes

SNOW has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Loop Capital dropped their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Needham & Company LLC increased their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wedbush lifted their target price on shares of Snowflake from $130.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.23.

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.