Newbridge Financial Services Group Inc. Has $419,000 Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Newbridge Financial Services Group Inc. boosted its position in Snowflake Inc. (NYSE:SNOW) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,105 shares of the company’s stock after buying an additional 377 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Snowflake were worth $419,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Snowflake during the 4th quarter worth approximately $838,455,000. Vanguard Group Inc. increased its position in shares of Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares during the last quarter. FMR LLC increased its position in shares of Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after purchasing an additional 1,496,235 shares during the last quarter. Winslow Capital Management LLC acquired a new position in shares of Snowflake during the 3rd quarter worth approximately $226,302,000. Finally, Trivest Advisors Ltd acquired a new position in shares of Snowflake during the 4th quarter worth approximately $173,747,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SNOW shares. Barclays boosted their price target on Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 23rd. Mizuho reduced their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Canaccord Genuity Group reduced their target price on Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Stifel Nicolaus reduced their target price on Snowflake from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, KeyCorp lifted their target price on Snowflake from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.92.

Snowflake Stock Performance

Shares of SNOW traded down $0.40 during mid-day trading on Tuesday, reaching $130.27. 655,989 shares of the company were exchanged, compared to its average volume of 6,449,614. Snowflake Inc. has a 52 week low of $124.69 and a 52 week high of $237.72. The stock has a market capitalization of $43.61 billion, a PE ratio of -46.67 and a beta of 0.85. The business has a 50 day simple moving average of $150.03 and a two-hundred day simple moving average of $176.93.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The business had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. On average, analysts predict that Snowflake Inc. will post -2.27 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 1,476 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.47, for a total value of $189,621.72. Following the completion of the sale, the director now owns 230,527 shares of the company’s stock, valued at $29,615,803.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the sale, the insider now owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 1,476 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.47, for a total value of $189,621.72. Following the completion of the sale, the director now directly owns 230,527 shares of the company’s stock, valued at approximately $29,615,803.69. The disclosure for this sale can be found here. Insiders sold 39,862 shares of company stock valued at $5,895,712 over the last 90 days. Company insiders own 7.80% of the company’s stock.

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.