Snowflake Inc. (NYSE:SNOW) Shares Bought by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,395 shares of the company’s stock after purchasing an additional 90 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Snowflake were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Cigna Investments Inc. New lifted its holdings in Snowflake by 1.6% in the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after acquiring an additional 51 shares during the last quarter. E&G Advisors LP lifted its stake in Snowflake by 3.0% during the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after purchasing an additional 51 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after buying an additional 53 shares in the last quarter. AdvisorNet Financial Inc grew its position in Snowflake by 5.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock worth $220,000 after buying an additional 61 shares during the last quarter. Finally, Kingfisher Capital LLC increased its holdings in shares of Snowflake by 0.4% in the third quarter. Kingfisher Capital LLC now owns 14,745 shares of the company’s stock valued at $2,253,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, CEO Sridhar Ramaswamy bought 31,542 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the transaction, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sridhar Ramaswamy bought 31,542 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $210.00, for a total value of $2,100,000.00. Following the sale, the senior vice president now owns 746,567 shares in the company, valued at $156,779,070. The disclosure for this sale can be found here. Insiders have sold a total of 179,055 shares of company stock valued at $36,633,917 over the last quarter. 8.30% of the stock is owned by company insiders.

Analyst Ratings Changes

SNOW has been the topic of a number of recent research reports. Raymond James lifted their target price on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Macquarie upgraded Snowflake from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $182.00 to $205.00 in a report on Thursday, February 29th. Truist Financial decreased their target price on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Canaccord Genuity Group restated a “buy” rating and set a $230.00 price target on shares of Snowflake in a report on Thursday, February 29th. Finally, UBS Group raised their price objective on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. 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’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Trading Down 1.1 %

SNOW stock traded down $1.68 during trading on Wednesday, reaching $150.30. 4,705,665 shares of the stock were exchanged, compared to its average volume of 5,239,566. The stock has a 50 day simple moving average of $182.44 and a 200-day simple moving average of $179.47. The company has a market capitalization of $50.23 billion, a P/E ratio of -58.94 and a beta of 0.91. Snowflake Inc. has a twelve month low of $135.26 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Equities analysts predict that Snowflake Inc. will post -1.92 EPS for the current year.

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.