Victory Capital Management Inc. Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Victory Capital Management Inc. raised its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 340,566 shares of the company’s stock after acquiring an additional 4,650 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of Snowflake worth $67,773,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Provence Wealth Management Group purchased a new position in Snowflake during the 3rd quarter worth $30,000. M&R Capital Management Inc. increased its stake in shares of Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after acquiring an additional 100 shares during the period. Parkside Financial Bank & Trust raised its holdings in Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Snowflake by 54.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after purchasing an additional 72 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. boosted its holdings in Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the senior vice president now owns 736,567 shares of the company’s stock, valued at $162,044,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the transaction, the senior vice president now owns 736,567 shares in the company, valued at $162,044,740. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Benoit Dageville sold 689 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Insiders have sold a total of 168,458 shares of company stock valued at $33,785,640 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Snowflake Stock Up 1.0 %

SNOW stock opened at $159.32 on Friday. The company has a market cap of $53.24 billion, a price-to-earnings ratio of -62.48 and a beta of 0.90. The business has a fifty day simple moving average of $163.20 and a 200-day simple moving average of $178.80. Snowflake Inc. has a 52 week low of $138.40 and a 52 week 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 for the quarter, beating the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on SNOW. Citigroup reduced their price target on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Truist Financial lowered their price target on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. JMP Securities upped their target price on shares of Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 29th. Finally, BNP Paribas upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $202.77.

Snowflake 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.