Element Pointe Advisors LLC Raises Stock Position in Snowflake Inc. (NYSE:SNOW)

Element Pointe Advisors LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 15.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,530 shares of the company’s stock after acquiring an additional 201 shares during the quarter. Element Pointe Advisors LLC’s holdings in Snowflake were worth $207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Snowflake by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock worth $39,697,000 after acquiring an additional 10,575 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Snowflake by 14.1% in the 4th quarter. Corient Private Wealth LLC now owns 18,904 shares of the company’s stock worth $3,762,000 after purchasing an additional 2,332 shares in the last quarter. Assetmark Inc. grew its position in Snowflake by 13.8% during the 4th quarter. Assetmark Inc. now owns 2,858 shares of the company’s stock worth $569,000 after purchasing an additional 346 shares during the last quarter. Commerce Bank increased its stake in Snowflake by 0.8% during the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after purchasing an additional 51 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in shares of Snowflake by 25.1% in the fourth quarter. Advisory Services Network LLC now owns 5,907 shares of the company’s stock worth $1,176,000 after buying an additional 1,184 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other Snowflake news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the sale, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Snowflake news, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the sale, the executive vice president now owns 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,386 shares of company stock worth $5,715,941. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Up 0.1 %

Snowflake stock opened at $112.61 on Thursday. The company has a fifty day simple moving average of $119.99 and a 200-day simple moving average of $138.43. The firm has a market capitalization of $37.75 billion, a price-to-earnings ratio of -40.22 and a beta of 0.83. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.52) EPS. On average, research analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on SNOW shares. Jefferies Financial Group cut their target price on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Stifel Nicolaus cut their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Bank of America decreased their target price on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Citigroup cut their price target on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Finally, Loop Capital decreased their price objective on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $175.17.

Snowflake Company Profile

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.