1,694 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,694 shares of the company’s stock, valued at approximately $337,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trexquant Investment LP raised its position in shares of Snowflake by 266.3% during the 4th quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after acquiring an additional 7,633 shares in the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of Snowflake during the fourth quarter worth $232,000. Rakuten Securities Inc. bought a new position in shares of Snowflake in the 4th quarter worth about $790,000. Sequoia Financial Advisors LLC lifted its position in shares of Snowflake by 209.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after buying an additional 3,152 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Snowflake by 14.1% in the 4th quarter. Corient Private Wealth LLC now owns 18,904 shares of the company’s stock valued at $3,762,000 after buying an additional 2,332 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research reports. Barclays increased their price objective on shares of Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 23rd. Redburn Atlantic reissued a “sell” rating and issued a $125.00 price target (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Stifel Nicolaus reduced their price objective on Snowflake from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Royal Bank of Canada dropped their target price on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Finally, Sanford C. Bernstein boosted their price target on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.92.

Insider Activity

In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sridhar Ramaswamy bought 31,542 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was bought at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the transaction, the executive vice president now directly owns 774,097 shares in the company, valued at $121,053,288.86. The disclosure for this sale can be found here. Insiders sold a total of 39,862 shares of company stock valued at $5,895,712 over the last three months. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $126.59 on Friday. Snowflake Inc. has a 1-year low of $124.69 and a 1-year high of $237.72. The company has a 50 day moving average price of $148.96 and a 200 day moving average price of $176.18.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The company had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Sell-side analysts predict that Snowflake Inc. will post -2.27 earnings per share for the current year.

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.