Quattro Financial Advisors LLC Increases Position in Snowflake Inc. (NYSE:SNOW)

Quattro Financial Advisors LLC grew its holdings in Snowflake Inc. (NYSE:SNOW) by 2,412.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,000 shares of the company’s stock after buying an additional 4,801 shares during the period. Quattro Financial Advisors LLC’s holdings in Snowflake were worth $808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Acadian Asset Management LLC increased its stake in shares of Snowflake by 34.3% during the third quarter. Acadian Asset Management LLC now owns 3,364 shares of the company’s stock worth $512,000 after acquiring an additional 860 shares during the period. O Shaughnessy Asset Management LLC grew its position in Snowflake by 54.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 7,717 shares of the company’s stock worth $1,179,000 after buying an additional 2,714 shares during the period. Bank of Nova Scotia grew its position in Snowflake by 13.2% during the third quarter. Bank of Nova Scotia now owns 8,841 shares of the company’s stock worth $1,351,000 after buying an additional 1,031 shares during the period. Rehmann Capital Advisory Group lifted its holdings in shares of Snowflake by 7.3% in the third quarter. Rehmann Capital Advisory Group now owns 1,355 shares of the company’s stock valued at $207,000 after purchasing an additional 92 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its holdings in shares of Snowflake by 11.9% in the third quarter. Insigneo Advisory Services LLC now owns 2,632 shares of the company’s stock valued at $402,000 after purchasing an additional 279 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Down 0.6 %

Snowflake stock traded down $0.88 during trading hours on Tuesday, hitting $141.89. 6,633,442 shares of the company traded hands, compared to its average volume of 6,664,463. The firm has a market cap of $47.50 billion, a P/E ratio of -50.82 and a beta of 0.85. The firm’s 50-day simple moving average is $145.65 and its two-hundred day simple moving average is $172.66. Snowflake Inc. has a 1-year low of $122.60 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The business had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. On average, equities research analysts predict that Snowflake Inc. will post -2.28 earnings per share for the current year.

Wall Street Analyst Weigh In

SNOW has been the topic of several recent research reports. Barclays upped their price target on shares of Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a report on Thursday, May 23rd. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. JPMorgan Chase & Co. upped their price target on shares of Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Redburn Atlantic reaffirmed a “sell” rating and issued a $125.00 price target (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Finally, JMP Securities reissued a “market outperform” rating and set a $235.00 price objective on shares of Snowflake in a research note on Tuesday, June 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $199.46.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 6,500 shares of Snowflake stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the transaction, the chief accounting officer now directly owns 36,076 shares of the company’s stock, valued at $5,712,995.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the sale, the insider now directly owns 63,222 shares in the company, valued at $8,112,014.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Emily Ho sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the sale, the chief accounting officer now owns 36,076 shares of the company’s stock, valued at $5,712,995.36. The disclosure for this sale can be found here. Insiders have sold 519,112 shares of company stock valued at $64,932,073 in the last quarter. 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.