Hartline Investment Corp Purchases 2,656 Shares of Snowflake Inc. (NYSE:SNOW)

Hartline Investment Corp grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,133 shares of the company’s stock after buying an additional 2,656 shares during the period. Snowflake makes up 2.4% of Hartline Investment Corp’s holdings, making the stock its 12th biggest position. Hartline Investment Corp’s holdings in Snowflake were worth $14,752,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Snowflake by 22.8% in the third quarter. International Assets Investment Management LLC now owns 2,620 shares of the company’s stock valued at $387,000 after purchasing an additional 486 shares in the last quarter. AE Wealth Management LLC raised its stake in Snowflake by 12.8% in the third quarter. AE Wealth Management LLC now owns 14,790 shares of the company’s stock valued at $2,259,000 after purchasing an additional 1,674 shares in the last quarter. HB Wealth Management LLC raised its stake in Snowflake by 13.8% in the third quarter. HB Wealth Management LLC now owns 2,322 shares of the company’s stock valued at $355,000 after purchasing an additional 281 shares in the last quarter. RFG Advisory LLC raised its stake in Snowflake by 9.9% in the third quarter. RFG Advisory LLC now owns 2,035 shares of the company’s stock valued at $311,000 after purchasing an additional 184 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Snowflake by 123.3% in the third quarter. Exchange Traded Concepts LLC now owns 8,438 shares of the company’s stock valued at $1,289,000 after purchasing an additional 4,660 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the sale, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the sale, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Christopher William Degnan sold 12,533 shares of Snowflake stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total value of $2,507,101.32. Following the completion of the sale, the executive now owns 98,172 shares in the company, valued at $19,638,326.88. The disclosure for this sale can be found here. Insiders have sold a total of 168,209 shares of company stock worth $34,291,592 in the last ninety days. 8.30% of the stock is owned by insiders.

Snowflake Stock Up 2.5 %

SNOW traded up $3.82 during trading on Wednesday, reaching $154.99. 3,941,398 shares of the company were exchanged, compared to its average volume of 6,562,033. The company’s 50-day moving average is $174.58 and its two-hundred day moving average is $179.32. The company has a market cap of $51.80 billion, a price-to-earnings ratio of -60.21 and a beta of 0.91. Snowflake Inc. has a 12-month low of $135.26 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data 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 company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Equities analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on SNOW shares. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Rosenblatt Securities upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Friday, April 5th. Oppenheimer decreased their target price on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Barclays decreased their target price on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. Finally, Citigroup decreased their target price on Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.