Sigma Investment Counselors Inc. Has $1.99 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Sigma Investment Counselors Inc. lifted its holdings in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 47.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 14,317 shares of the company’s stock after buying an additional 4,603 shares during the period. Sigma Investment Counselors Inc.’s holdings in Snowflake were worth $1,991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Shay Capital LLC raised its holdings in shares of Snowflake by 2.5% in the 4th quarter. Shay Capital LLC now owns 1,584 shares of the company’s stock valued at $537,000 after purchasing an additional 39 shares during the period. Claro Advisors LLC raised its holdings in shares of Snowflake by 5.5% in the 4th quarter. Claro Advisors LLC now owns 869 shares of the company’s stock valued at $294,000 after purchasing an additional 45 shares during the period. Gotham Asset Management LLC raised its holdings in Snowflake by 4.6% in the 4th quarter. Gotham Asset Management LLC now owns 1,211 shares of the company’s stock valued at $410,000 after acquiring an additional 53 shares during the period. Glassman Wealth Services raised its holdings in Snowflake by 233.3% in the 4th quarter. Glassman Wealth Services now owns 80 shares of the company’s stock valued at $27,000 after acquiring an additional 56 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in Snowflake by 29.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 265 shares of the company’s stock valued at $61,000 after acquiring an additional 60 shares during the period. 66.74% of the stock is owned by institutional investors.

Insider Buying and Selling at Snowflake

In other news, Director Teresa Briggs sold 1,224 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $195.73, for a total value of $239,573.52. Following the completion of the sale, the director now owns 2,217 shares of the company’s stock, valued at $433,933.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Benoit Dageville sold 724 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $131,123.64. Following the completion of the sale, the insider now owns 15,512 shares of the company’s stock, valued at $2,809,378.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 1,224 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $195.73, for a total value of $239,573.52. Following the completion of the sale, the director now directly owns 2,217 shares of the company’s stock, valued at approximately $433,933.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,823 shares of company stock worth $859,968. 8.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on SNOW. Moffett Nathanson began coverage on shares of Snowflake in a report on Thursday. They issued a “buy” rating and a $242.00 price target on the stock. Morgan Stanley lowered their price target on shares of Snowflake from $295.00 to $274.00 and set an “overweight” rating on the stock in a report on Monday, August 15th. JMP Securities increased their price target on shares of Snowflake from $180.00 to $215.00 and gave the company a “market outperform” rating in a report on Thursday, August 25th. Canaccord Genuity Group increased their price target on shares of Snowflake from $185.00 to $200.00 in a report on Thursday, August 25th. Finally, Evercore ISI lowered their price target on shares of Snowflake from $250.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.67.

Snowflake Stock Down 0.9 %

Snowflake stock traded down $1.60 during trading hours on Friday, hitting $170.19. The stock had a trading volume of 118,450 shares, compared to its average volume of 8,652,706. The stock has a market cap of $54.46 billion, a price-to-earnings ratio of -78.57 and a beta of 1.05. Snowflake Inc. has a one year low of $110.26 and a one year high of $405.00. The business’s 50 day simple moving average is $167.56 and its 200-day simple moving average is $167.86.

Snowflake (NYSE:SNOWGet Rating) last posted its earnings results on Wednesday, August 24th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.16). The firm had revenue of $497.25 million during the quarter, compared to the consensus estimate of $466.03 million. Snowflake had a negative net margin of 41.25% and a negative return on equity of 12.57%. Research analysts anticipate that Snowflake Inc. will post -2 EPS for the current fiscal year.

About Snowflake

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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