Invictus Private Wealth LLC Has $1.44 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Invictus Private Wealth LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,217 shares of the company’s stock after purchasing an additional 241 shares during the period. Invictus Private Wealth LLC’s holdings in Snowflake were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sigma Planning Corp raised its holdings in shares of Snowflake by 16.3% in the 3rd quarter. Sigma Planning Corp now owns 1,520 shares of the company’s stock worth $232,000 after acquiring an additional 213 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Snowflake by 20.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 120,087 shares of the company’s stock worth $18,346,000 after acquiring an additional 20,540 shares during the last quarter. abrdn plc raised its holdings in shares of Snowflake by 3.0% in the 3rd quarter. abrdn plc now owns 113,680 shares of the company’s stock worth $17,367,000 after acquiring an additional 3,331 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Snowflake by 3,231.4% in the 3rd quarter. Zions Bancorporation N.A. now owns 1,166 shares of the company’s stock worth $178,000 after acquiring an additional 1,131 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Snowflake by 19.8% in the 3rd quarter. Barclays PLC now owns 342,446 shares of the company’s stock worth $52,315,000 after acquiring an additional 56,582 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 3.4 %

Shares of Snowflake stock traded down $4.77 on Friday, hitting $136.18. 14,049,227 shares of the company traded hands, compared to its average volume of 4,976,461. Snowflake Inc. has a 12-month low of $133.59 and a 12-month high of $237.72. The firm’s 50-day simple moving average is $155.79 and its 200 day simple moving average is $179.74. The company has a market cap of $45.51 billion, a P/E ratio of -48.63 and a beta of 0.90.

Snowflake (NYSE:SNOW) last released its quarterly earnings results 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. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Analysts predict that Snowflake Inc. will post -1.83 earnings per share for the current year.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the transaction, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,880 shares of company stock valued at $10,832,965. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price (down previously from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research report on Wednesday. HSBC reaffirmed a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on shares of Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $125.00 price objective (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.64.

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.