Newbridge Financial Services Group Inc. Has $451,000 Stake in Snowflake Inc. (NYSE:SNOW)

Newbridge Financial Services Group Inc. grew its holdings in Snowflake Inc. (NYSE:SNOW) by 27.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,342 shares of the company’s stock after purchasing an additional 722 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Snowflake were worth $451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB purchased a new stake in Snowflake in the 1st quarter worth about $258,957,000. Vanguard Group Inc. increased its stake in Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after buying an additional 1,559,830 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Snowflake during the 1st quarter valued at $171,608,000. Cibc World Markets Corp purchased a new position in shares of Snowflake during the 4th quarter valued at $147,120,000. Finally, AQR Capital Management LLC increased its stake in shares of Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling

In other Snowflake news, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the sale, the director now owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the transaction, the director now directly owns 4,247 shares in the company, valued at $607,236.06. The disclosure for this sale can be found here. Insiders sold a total of 45,386 shares of company stock valued at $5,715,941 over the last ninety days. Insiders own 7.80% of the company’s stock.

Snowflake Trading Down 4.0 %

SNOW opened at $110.23 on Wednesday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The firm has a 50-day moving average price of $118.10 and a two-hundred day moving average price of $136.75. The stock has a market capitalization of $36.95 billion, a PE ratio of -39.37 and a beta of 0.83.

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

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research reports. Evercore ISI dropped their target price on Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Bank of America reduced their target price on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Robert W. Baird dropped their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Needham & Company LLC reduced their price objective on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group lowered their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.17.

Snowflake 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.