Cerity Partners LLC Grows Stake in Snowflake Inc. (NYSE:SNOW)

Cerity Partners LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 46.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,586 shares of the company’s stock after purchasing an additional 12,557 shares during the quarter. Cerity Partners LLC’s holdings in Snowflake were worth $7,878,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Ulland Investment Advisors LLC grew its holdings in Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after buying an additional 135 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Provence Wealth Management Group purchased a new position in Snowflake during the 3rd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after buying an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, CRO Christopher William Degnan sold 2,346 shares of Snowflake stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the transaction, the executive now directly owns 102,007 shares in the company, valued at approximately $20,735,982.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, CEO Sridhar Ramaswamy bought 31,542 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now directly owns 31,542 shares in the company, valued at $5,000,037.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 2,346 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the transaction, the executive now owns 102,007 shares in the company, valued at $20,735,982.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,055 shares of company stock worth $36,633,917. 8.30% of the stock is currently owned by company insiders.

Snowflake Trading Down 4.1 %

Shares of NYSE:SNOW opened at $152.01 on Tuesday. Snowflake Inc. has a 12-month low of $135.26 and a 12-month high of $237.72. The business’s fifty day simple moving average is $183.70 and its 200-day simple moving average is $179.49.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. As a group, equities analysts anticipate that Snowflake Inc. will post -1.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of recent research reports. Citigroup dropped their target price on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Truist Financial dropped their target price on Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Macquarie upgraded Snowflake from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $182.00 to $205.00 in a report on Thursday, February 29th. Raymond James lifted their target price on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Evercore ISI dropped their target price on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

About Snowflake

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.