Snowflake Inc. (NYSE:SNOW) Shares Acquired by Lincoln National Corp

Lincoln National Corp raised its holdings in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 217.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,077 shares of the company’s stock after acquiring an additional 4,162 shares during the period. Lincoln National Corp’s holdings in Snowflake were worth $1,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 100 shares during the period. Ronald Blue Trust Inc. purchased a new position in shares of Snowflake during the 2nd quarter valued at approximately $32,000. Geneos Wealth Management Inc. increased its holdings in shares of Snowflake by 822.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock valued at $38,000 after purchasing an additional 148 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Snowflake by 1,800.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 190 shares of the company’s stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. Finally, Bogart Wealth LLC increased its holdings in shares of Snowflake by 6,433.3% during the 2nd quarter. Bogart Wealth LLC now owns 196 shares of the company’s stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Down 3.0 %

Shares of Snowflake stock opened at $145.79 on Wednesday. The firm has a market capitalization of $46.89 billion, a P/E ratio of -63.66 and a beta of 0.72. Snowflake Inc. has a 52 week low of $110.26 and a 52 week high of $329.49. The firm’s 50 day moving average is $142.07 and its two-hundred day moving average is $156.76.

Snowflake (NYSE:SNOWGet Rating) last announced its quarterly earnings results on Wednesday, November 30th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.14). The company had revenue of $557.03 million during the quarter, compared to analysts’ expectations of $535.81 million. Snowflake had a negative net margin of 38.79% and a negative return on equity of 12.98%. As a group, research analysts expect that Snowflake Inc. will post -2.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michael Scarpelli sold 200,000 shares of the stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $151.76, for a total value of $30,352,000.00. Following the completion of the sale, the chief financial officer now directly owns 101,097 shares of the company’s stock, valued at $15,342,480.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Benoit Dageville sold 724 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $142.59, for a total transaction of $103,235.16. Following the completion of the sale, the insider now directly owns 14,404 shares of the company’s stock, valued at $2,053,866.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Scarpelli sold 200,000 shares of the stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $151.76, for a total value of $30,352,000.00. Following the sale, the chief financial officer now directly owns 101,097 shares of the company’s stock, valued at $15,342,480.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,035 shares of company stock valued at $30,642,171. 8.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SNOW shares. Stifel Nicolaus cut their target price on shares of Snowflake from $180.00 to $150.00 in a report on Thursday, December 1st. Sanford C. Bernstein initiated coverage on shares of Snowflake in a report on Tuesday, October 11th. They issued a “market perform” rating for the company. Raymond James cut their price target on shares of Snowflake from $197.00 to $180.00 in a report on Thursday, December 1st. Barclays lowered their target price on shares of Snowflake from $180.00 to $169.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 10th. Finally, Cowen lowered their target price on shares of Snowflake from $235.00 to $225.00 in a research note on Thursday, December 1st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $188.28.

Snowflake Company Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

See Also

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOWGet Rating).

Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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