Walleye Capital LLC Grows Stock Position in Snowflake Inc. (NYSE:SNOW)

Walleye Capital LLC raised its holdings in Snowflake Inc. (NYSE:SNOWGet Rating) by 30.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,189 shares of the company’s stock after buying an additional 1,437 shares during the quarter. Walleye Capital LLC’s holdings in Snowflake were worth $1,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its stake in Snowflake by 27.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,247 shares of the company’s stock valued at $5,556,000 after buying an additional 5,260 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Snowflake by 4.5% in the first quarter. Nordea Investment Management AB now owns 148,058 shares of the company’s stock worth $34,591,000 after purchasing an additional 6,380 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Snowflake by 25.5% in the first quarter. Wedbush Securities Inc. now owns 1,650 shares of the company’s stock worth $378,000 after purchasing an additional 335 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Snowflake by 0.7% in the first quarter. Victory Capital Management Inc. now owns 13,338 shares of the company’s stock worth $2,287,000 after purchasing an additional 93 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY raised its stake in shares of Snowflake by 2.7% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 12,690 shares of the company’s stock worth $4,299,000 after purchasing an additional 336 shares during the last quarter. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Frank Slootman sold 1,651 shares of Snowflake stock in a transaction that occurred 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 owns 135,781 shares in the company, valued at $24,591,296.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Frank Slootman sold 1,651 shares of Snowflake stock in a transaction that occurred 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 owns 135,781 shares in the company, valued at $24,591,296.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 1,224 shares of Snowflake stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $195.73, for a total value of $239,573.52. Following the transaction, the director now owns 2,217 shares in the company, valued at approximately $433,933.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,823 shares of company stock worth $859,968. 8.90% of the stock is owned by corporate insiders.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $184.67 on Friday. The business’s 50 day moving average price is $165.07 and its 200-day moving average price is $168.38. The firm has a market capitalization of $59.09 billion, a PE ratio of -85.10 and a beta of 1.05. Snowflake Inc. has a 1 year low of $110.26 and a 1 year high of $405.00.

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

Analyst Upgrades and Downgrades

SNOW has been the subject of several research analyst reports. Jefferies Financial Group upgraded Snowflake from a “hold” rating to a “buy” rating and raised their price objective for the stock from $125.00 to $200.00 in a research note on Tuesday, June 28th. JMP Securities raised their price objective on Snowflake from $180.00 to $215.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 25th. Wolfe Research raised their price objective on Snowflake from $170.00 to $197.00 and gave the stock an “outperform” rating in a research note on Thursday, August 25th. Guggenheim began coverage on Snowflake in a research note on Friday, August 12th. They issued a “sell” rating and a $125.00 price objective for the company. Finally, Capital One Financial began coverage on Snowflake in a report on Friday, August 19th. They set an “equal weight” rating and a $182.00 target price on the stock. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $215.94.

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.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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