Westwood Holdings Group Inc. Takes $537,000 Position in Snowflake Inc. (NYSE:SNOW)

Westwood Holdings Group Inc. bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,977 shares of the company’s stock, valued at approximately $537,000.

A number of other large investors have also bought and sold shares of the stock. Bulltick Wealth Management LLC acquired a new stake in shares of Snowflake in the 2nd quarter valued at about $3,541,000. Summit Trail Advisors LLC boosted its holdings in Snowflake by 11.9% in the second quarter. Summit Trail Advisors LLC now owns 39,311 shares of the company’s stock worth $5,311,000 after acquiring an additional 4,196 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Snowflake by 8.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 60,461 shares of the company’s stock valued at $8,168,000 after acquiring an additional 4,903 shares during the period. DCF Advisers LLC bought a new stake in shares of Snowflake during the second quarter valued at approximately $439,000. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Snowflake by 3.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 41,872 shares of the company’s stock worth $5,656,000 after purchasing an additional 1,560 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the 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 transaction, the executive vice president now directly owns 494,942 shares in the company, valued at approximately $60,922,410.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The disclosure for this sale can be found here. Insiders have sold 517,203 shares of company stock worth $63,833,373 in the last three months. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $110.27 on Monday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The stock has a market cap of $36.96 billion, a PE 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 posted 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 return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the previous year, the firm earned ($0.52) EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts predict that Snowflake Inc. will post -2.42 EPS for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of recent research reports. Mizuho decreased their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Scotiabank decreased their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. DA Davidson dropped their price target on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Evercore ISI cut their price target on Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $176.03.

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.