Arnhold LLC Buys 3,806 Shares of Snowflake Inc. (NYSE:SNOW)

Arnhold LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 16.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,643 shares of the company’s stock after acquiring an additional 3,806 shares during the quarter. Arnhold LLC’s holdings in Snowflake were worth $5,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mach 1 Financial Group LLC acquired a new stake in Snowflake during the 4th quarter worth about $754,000. Brighton Jones LLC grew its position in shares of Snowflake by 59.2% during the 4th quarter. Brighton Jones LLC now owns 86,852 shares of the company’s stock worth $17,284,000 after buying an additional 32,310 shares during the period. Certuity LLC bought a new position in Snowflake during the fourth quarter worth $295,000. Kestra Private Wealth Services LLC acquired a new stake in Snowflake in the fourth quarter worth $278,000. Finally, Pursue Wealth Partners LLC increased its stake in Snowflake by 1.3% in the fourth quarter. Pursue Wealth Partners LLC now owns 36,633 shares of the company’s stock valued at $7,290,000 after purchasing an additional 465 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SNOW shares. Truist Financial lowered their target price on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Citigroup lowered their target price on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Bank of America reduced their price objective on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. KeyCorp began coverage on Snowflake in a report on Thursday, April 11th. They issued an “overweight” rating and a $185.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Trading Down 1.4 %

SNOW traded down $2.28 during midday trading on Tuesday, reaching $155.16. The company’s stock had a trading volume of 4,011,604 shares, compared to its average volume of 6,482,611. The stock’s 50-day moving average is $167.16 and its 200-day moving average is $179.13. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72. The firm has a market capitalization of $51.85 billion, a price-to-earnings ratio of -60.85 and a beta of 0.91.

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

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the transaction, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sridhar Ramaswamy purchased 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s 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 approximately $121,053,288.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,209 shares of company stock valued at $34,291,592. Corporate insiders own 8.30% of the company’s stock.

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.