Snowflake Inc. (NYSE:SNOW) is Pursue Wealth Partners LLC’s 5th Largest Position

Pursue Wealth Partners LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 36,633 shares of the company’s stock after acquiring an additional 465 shares during the quarter. Snowflake makes up about 4.7% of Pursue Wealth Partners LLC’s portfolio, making the stock its 5th biggest position. Pursue Wealth Partners LLC’s holdings in Snowflake were worth $7,290,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Ulland Investment Advisors LLC raised its position in Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after buying an additional 135 shares during the period. Provence Wealth Management Group acquired a new position in Snowflake in the 3rd quarter worth about $30,000. M&R Capital Management Inc. increased its position in Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Snowflake by 54.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the acquisition, the chief executive officer now directly 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 SEC, which is available at this link. In other news, SVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, February 5th. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the senior vice president now directly owns 736,567 shares of the company’s stock, valued at approximately $162,044,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sridhar Ramaswamy bought 31,542 shares of the stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the purchase, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The disclosure for this purchase can be found here. Insiders sold 168,209 shares of company stock valued at $34,291,592 in the last three months. Corporate insiders own 8.30% of the company’s stock.

Snowflake Stock Up 3.7 %

SNOW stock traded up $5.63 during midday trading on Friday, reaching $158.13. 6,533,260 shares of the company’s stock traded hands, compared to its average volume of 4,341,603. The company has a 50-day simple moving average of $169.91 and a two-hundred day simple moving average of $179.05. Snowflake Inc. has a 1-year low of $138.40 and a 1-year high of $237.72. The company has a market cap of $52.85 billion, a price-to-earnings ratio of -62.01 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Equities research analysts forecast that Snowflake Inc. will post -1.9 EPS for the current year.

Analyst Upgrades and Downgrades

SNOW has been the topic of several research reports. UBS Group upped their target price on Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Piper Sandler reissued an “overweight” rating and set a $250.00 price objective on shares of Snowflake in a report on Tuesday, February 27th. Stifel Nicolaus lowered their price objective on Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Needham & Company LLC lowered their price objective on Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

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.