Snowflake Inc. (NYSE:SNOW) Shares Purchased by Mercer Global Advisors Inc. ADV

Posted by Defense World Staff on May 17th, 2023

Mercer Global Advisors Inc. ADV boosted its stake in Snowflake Inc. (NYSE:SNOW – Get Rating) by 72.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,799 shares of the company’s stock after acquiring an additional 6,230 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Snowflake were worth $2,124,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. VitalStone Financial LLC bought a new stake in Snowflake during the fourth quarter valued at $26,000. Accurate Wealth Management LLC bought a new stake in Snowflake during the fourth quarter valued at $27,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Paragon Wealth Strategies LLC grew its position in shares of Snowflake by 2,500.0% during the fourth quarter. Paragon Wealth Strategies LLC now owns 208 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its position in shares of Snowflake by 5,000.0% during the third quarter. GHP Investment Advisors Inc. now owns 204 shares of the company’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 13,182 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $165.81, for a total value of $2,185,707.42. Following the completion of the transaction, the insider now directly owns 43,063 shares in the company, valued at approximately $7,140,276.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Benoit Dageville sold 13,182 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $165.81, for a total value of $2,185,707.42. Following the completion of the transaction, the insider now directly owns 43,063 shares in the company, valued at approximately $7,140,276.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank Slootman sold 1,701 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $141.38, for a total value of $240,487.38. Following the completion of the transaction, the chief executive officer now owns 130,241 shares of the company’s stock, valued at $18,413,472.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 296,119 shares of company stock worth $41,760,817. 8.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on SNOW. Citigroup lowered their price target on shares of Snowflake from $225.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, March 3rd. JMP Securities reissued a “market outperform” rating and issued a $215.00 price target on shares of Snowflake in a report on Thursday, March 2nd. Robert W. Baird cut their price target on shares of Snowflake from $185.00 to $180.00 in a report on Thursday, March 2nd. Piper Sandler reissued a “buy” rating and issued a $194.00 price target on shares of Snowflake in a report on Thursday, March 2nd. Finally, Needham & Company LLC upped their price target on shares of Snowflake from $165.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.17.

Snowflake Stock Down 0.2 %

Snowflake stock opened at $171.71 on Wednesday. The stock has a 50-day simple moving average of $146.35 and a 200 day simple moving average of $146.79. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $205.66.

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

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.