Wharton Business Group LLC Decreases Position in Snowflake Inc. (NYSE:SNOW)

Wharton Business Group LLC lessened its holdings in Snowflake Inc. (NYSE:SNOWFree Report) by 18.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,800 shares of the company’s stock after selling 400 shares during the quarter. Wharton Business Group LLC’s holdings in Snowflake were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SNOW. Provence Wealth Management Group purchased a new position in shares of Snowflake in the third quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of 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 acquiring an additional 72 shares during the period. Global Wealth Management Investment Advisory Inc. increased its position in shares of Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the period. M&R Capital Management Inc. increased its position in shares of Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after acquiring an additional 100 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Snowflake by 34.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after acquiring an additional 52 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, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction on Monday, March 25th. The shares were acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the transaction, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. Insiders sold a total of 62,380 shares of company stock valued at $9,906,900 over the last three months. Corporate insiders own 8.30% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW traded up $1.28 during midday trading on Friday, reaching $157.15. The stock had a trading volume of 2,443,791 shares, compared to its average volume of 4,138,509. The stock has a 50-day moving average of $157.67 and a 200-day moving average of $179.02. The company has a market capitalization of $52.52 billion, a price-to-earnings ratio of -61.63 and a beta of 0.90. Snowflake Inc. has a 12-month low of $138.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOWGet Free Report) last announced its quarterly earnings data 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. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. As a group, analysts forecast that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of Snowflake from $185.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Mizuho reiterated a “buy” rating and set a $205.00 price target (down previously from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. StockNews.com cut shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Wednesday. Redburn Atlantic reiterated a “sell” rating and set a $125.00 price target (down previously from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Finally, Bank of America reduced their price target on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $202.77.

Read Our Latest Research Report on SNOW

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.

Featured Articles

Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.