Mount Lucas Management LP Raises Stake in Snowflake Inc. (NYSE:SNOW)

Mount Lucas Management LP grew its position in shares of Snowflake Inc. (NYSE:SNOWFree Report) by 82.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,718 shares of the company’s stock after purchasing an additional 1,225 shares during the quarter. Mount Lucas Management LP’s holdings in Snowflake were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of Snowflake in the 4th quarter worth approximately $2,452,000. Montag A & Associates Inc. lifted its position in Snowflake by 2,210.5% in the fourth quarter. Montag A & Associates Inc. now owns 439 shares of the company’s stock valued at $87,000 after purchasing an additional 420 shares during the last quarter. National Pension Service lifted its holdings in Snowflake by 1.7% in the 4th quarter. National Pension Service now owns 455,787 shares of the company’s stock worth $90,702,000 after buying an additional 7,523 shares during the period. Picton Mahoney Asset Management lifted its stake in Snowflake by 17.2% in the fourth quarter. Picton Mahoney Asset Management now owns 22,238 shares of the company’s stock worth $4,427,000 after acquiring an additional 3,257 shares during the period. Finally, Everpar Advisors LLC bought a new stake in Snowflake in the fourth quarter valued at $295,000. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the sale, the executive now directly owns 354,954 shares in the company, valued at approximately $55,571,598.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,380 shares of company stock valued at $9,906,900. Insiders own 8.30% of the company’s stock.

Snowflake Stock Up 0.8 %

NYSE SNOW traded up $1.21 on Friday, reaching $157.08. The stock had a trading volume of 2,441,161 shares, compared to its average volume of 4,288,001. Snowflake Inc. has a 12-month low of $138.40 and a 12-month high of $237.72. The stock has a fifty day moving average price of $158.26 and a two-hundred day moving average price of $178.96.

Snowflake (NYSE:SNOWGet Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Research analysts predict that Snowflake Inc. will post -1.9 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America dropped their target price on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. JPMorgan Chase & Co. decreased their target price on Snowflake from $200.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Mizuho reaffirmed a “buy” rating and issued a $205.00 price target (down from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. StockNews.com cut shares of Snowflake from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, HSBC reiterated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.77.

Read Our Latest Report on Snowflake

Snowflake Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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