Cornerstone Advisory LLC Has $380,000 Position in Snowflake Inc. (NYSE:SNOW)

Cornerstone Advisory LLC reduced its holdings in Snowflake Inc. (NYSE:SNOWGet Rating) by 13.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,660 shares of the company’s stock after selling 253 shares during the period. Cornerstone Advisory LLC’s holdings in Snowflake were worth $380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glassman Wealth Services grew its position in shares of Snowflake by 233.3% in the 4th quarter. Glassman Wealth Services now owns 80 shares of the company’s stock valued at $27,000 after acquiring an additional 56 shares during the period. KRS Capital Management LLC bought a new position in shares of Snowflake in the 4th quarter valued at about $33,000. GW&K Investment Management LLC bought a new position in shares of Snowflake in the 4th quarter valued at about $34,000. Level Financial Advisors Inc. boosted its holdings in shares of Snowflake by 475.0% during the 1st quarter. Level Financial Advisors Inc. now owns 115 shares of the company’s stock worth $26,000 after buying an additional 95 shares during the period. Finally, HM Payson & Co. bought a new stake in shares of Snowflake during the 4th quarter worth about $41,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Cowen lifted their target price on shares of Snowflake from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 25th. JPMorgan Chase & Co. lifted their target price on shares of Snowflake from $165.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, August 25th. Redburn Partners assumed coverage on shares of Snowflake in a report on Wednesday, June 29th. They set a “neutral” rating and a $125.00 target price for the company. Wolfe Research lifted their target price on shares of Snowflake from $170.00 to $197.00 and gave the stock an “outperform” rating in a report on Thursday, August 25th. Finally, Truist Financial lifted their target price on shares of Snowflake from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 25th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.24.

Insider Activity

In other news, CEO Frank Slootman sold 1,651 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $181.11, for a total value of $299,012.61. Following the sale, the chief executive officer now directly owns 135,781 shares of the company’s stock, valued at approximately $24,591,296.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Benoit Dageville sold 724 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $131,123.64. Following the transaction, the insider now directly owns 15,512 shares of the company’s stock, valued at $2,809,378.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank Slootman sold 1,651 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $299,012.61. Following the transaction, the chief executive officer now directly owns 135,781 shares in the company, valued at $24,591,296.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,823 shares of company stock valued at $859,968. 8.90% of the stock is currently owned by insiders.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $197.98 on Thursday. Snowflake Inc. has a 52-week low of $110.26 and a 52-week high of $405.00. The firm has a 50 day moving average price of $163.82 and a two-hundred day moving average price of $170.07.

Snowflake (NYSE:SNOWGet Rating) last posted its quarterly earnings data on Wednesday, August 24th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.16). Snowflake had a negative net margin of 41.25% and a negative return on equity of 12.57%. The firm had revenue of $497.25 million during the quarter, compared to the consensus estimate of $466.03 million. On average, equities analysts forecast that Snowflake Inc. will post -2 earnings per share for the current year.

Snowflake Company 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.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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