Baird Financial Group Inc. Acquires 267 Shares of Snowflake Inc. (NYSE:SNOW)

Baird Financial Group Inc. boosted its holdings in Snowflake Inc. (NYSE:SNOWGet Rating) by 21.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,524 shares of the company’s stock after purchasing an additional 267 shares during the period. Baird Financial Group Inc.’s holdings in Snowflake were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its position 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 purchasing an additional 5,260 shares in the last quarter. Keybank National Association OH grew its position in Snowflake by 131.3% in the second quarter. Keybank National Association OH now owns 35,209 shares of the company’s stock valued at $4,896,000 after purchasing an additional 19,990 shares in the last quarter. AE Wealth Management LLC lifted its stake in Snowflake by 205.1% in the second quarter. AE Wealth Management LLC now owns 5,443 shares of the company’s stock valued at $757,000 after acquiring an additional 3,659 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Snowflake by 0.7% in the first quarter. Victory Capital Management Inc. now owns 13,338 shares of the company’s stock valued at $2,287,000 after acquiring an additional 93 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in Snowflake in the second quarter valued at $208,000. Institutional investors own 66.74% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent analyst reports. Moffett Nathanson initiated coverage on shares of Snowflake in a research note on Thursday, September 22nd. They issued a “buy” rating and a $242.00 price target for the company. Oppenheimer increased their price target on shares of Snowflake from $200.00 to $230.00 in a research note on Thursday, August 25th. Cowen increased their price target on shares of Snowflake from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Loop Capital increased their price target on shares of Snowflake from $180.00 to $210.00 in a research note on Thursday, August 25th. Finally, Wolfe Research raised their target price on shares of Snowflake from $170.00 to $197.00 and gave the stock an “outperform” rating in a research note on Thursday, August 25th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $211.97.

Insider Buying and Selling

In related news, insider Benoit Dageville sold 724 shares of Snowflake stock in a transaction that occurred 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 sale, the insider now directly owns 15,512 shares in the company, valued at approximately $2,809,378.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Benoit Dageville sold 724 shares of Snowflake stock in a transaction that occurred 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 sale, the insider now directly owns 15,512 shares in the company, valued at approximately $2,809,378.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the chief executive officer now owns 135,781 shares in the company, valued at $24,591,296.91. The disclosure for this sale can be found here. Insiders have sold a total of 3,599 shares of company stock worth $669,710 in the last ninety days. Company insiders own 8.90% of the company’s stock.

Snowflake Trading Up 2.2 %

Shares of Snowflake stock opened at $146.45 on Thursday. The firm has a market capitalization of $46.86 billion, a PE ratio of -67.49 and a beta of 0.86. The firm’s 50 day moving average is $164.36 and its 200 day moving average is $155.11. Snowflake Inc. has a 1 year low of $110.26 and a 1 year high of $378.11.

Snowflake (NYSE:SNOWGet Rating) last announced its quarterly earnings results on Wednesday, August 24th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $497.25 million for the quarter, compared to the consensus estimate of $466.03 million. As a group, research analysts anticipate 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.

Further Reading

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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