Circle Wealth Management LLC Boosts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Circle Wealth Management LLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 62.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,782 shares of the company’s stock after buying an additional 3,758 shares during the quarter. Circle Wealth Management LLC’s holdings in Snowflake were worth $1,321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Snowflake by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after buying an additional 297,428 shares in the last quarter. Jennison Associates LLC lifted its stake in Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after purchasing an additional 249,249 shares in the last quarter. Sands Capital Management LLC boosted its holdings in Snowflake by 12.6% in the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after purchasing an additional 610,970 shares during the period. WCM Investment Management LLC grew its position in shares of Snowflake by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock valued at $298,644,000 after purchasing an additional 11,677 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Snowflake by 51.8% in the fourth quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock worth $334,459,000 after purchasing an additional 573,400 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Down 3.3 %

Shares of SNOW stock opened at $110.27 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a market capitalization of $36.96 billion, a price-to-earnings ratio of -39.38 and a beta of 0.83. The stock has a fifty day moving average of $120.87 and a 200 day moving average of $139.36.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 848 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 value of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares in the company, valued at approximately $607,236.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Snowflake news, Director Teresa Briggs sold 848 shares of the 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 transaction, the director now owns 4,247 shares in the company, valued at $607,236.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the sale, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 517,203 shares of company stock worth $63,833,373. Company insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stifel Nicolaus dropped their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Scotiabank cut their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. Citigroup lowered their target price on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. JMP Securities dropped their target price on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Two 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

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.