Russell Investments Group Ltd. Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Russell Investments Group Ltd. grew its position in Snowflake Inc. (NYSE:SNOW) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,606 shares of the company’s stock after buying an additional 53,722 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Snowflake worth $38,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ulland Investment Advisors LLC grew its position in Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after acquiring an additional 135 shares in the last quarter. Provence Wealth Management Group acquired a new position in shares of Snowflake in the third quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. increased its stake in Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after buying an additional 72 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its holdings in Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after buying an additional 97 shares in the last quarter. Finally, M&R Capital Management Inc. boosted 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 valued at $40,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, CRO Christopher William Degnan sold 12,533 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $158.52 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,533 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the completion of the transaction, the executive now owns 98,172 shares of the company’s stock, valued at approximately $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 over the last ninety days. 8.30% of the stock is currently owned by company insiders.

Snowflake Trading Down 0.4 %

Shares of SNOW stock opened at $157.47 on Tuesday. The business’s 50 day moving average is $168.46 and its two-hundred day moving average is $179.14. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last posted 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. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, research analysts predict that Snowflake Inc. will post -1.9 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JMP Securities upped their price objective on Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 29th. Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Needham & Company LLC decreased their price objective on Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Raymond James upped their target price on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, KeyCorp began coverage on shares of Snowflake in a research note on Thursday, April 11th. They issued an “overweight” rating and a $185.00 price target for the company. Two equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

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.