Lyell Wealth Management LP Acquires 19,838 Shares of Snowflake Inc. (NYSE:SNOW)

Lyell Wealth Management LP increased its position in Snowflake Inc. (NYSE:SNOW) by 68.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,747 shares of the company’s stock after buying an additional 19,838 shares during the period. Lyell Wealth Management LP’s holdings in Snowflake were worth $9,701,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Snowflake by 22.8% during the third quarter. International Assets Investment Management LLC now owns 2,620 shares of the company’s stock valued at $387,000 after purchasing an additional 486 shares during the period. AE Wealth Management LLC raised its holdings in shares of Snowflake by 12.8% in the third quarter. AE Wealth Management LLC now owns 14,790 shares of the company’s stock worth $2,259,000 after buying an additional 1,674 shares during the period. HB Wealth Management LLC grew its stake in Snowflake by 13.8% in the third quarter. HB Wealth Management LLC now owns 2,322 shares of the company’s stock worth $355,000 after purchasing an additional 281 shares in the last quarter. RFG Advisory LLC grew its stake in Snowflake by 9.9% in the third quarter. RFG Advisory LLC now owns 2,035 shares of the company’s stock worth $311,000 after purchasing an additional 184 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Snowflake by 123.3% in the third quarter. Exchange Traded Concepts LLC now owns 8,438 shares of the company’s stock worth $1,289,000 after purchasing an additional 4,660 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNOW has been the topic of several research analyst reports. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Bank of America lowered their price objective on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Needham & Company LLC lowered their price objective on Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Stifel Nicolaus lowered their price objective on Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Stock Up 2.5 %

Shares of Snowflake stock traded up $3.84 on Wednesday, hitting $155.01. 3,962,799 shares of the company were exchanged, compared to its average volume of 6,562,033. The stock has a market capitalization of $51.80 billion, a price-to-earnings ratio of -60.79 and a beta of 0.91. The company has a 50-day moving average price of $172.95 and a 200 day moving average price of $179.15. Snowflake Inc. has a 1-year low of $135.26 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Research analysts forecast that Snowflake Inc. will post -1.9 EPS for the current year.

Insider Activity

In other news, CEO Sridhar Ramaswamy purchased 31,542 shares of Snowflake stock in a transaction dated Monday, March 25th. The shares were purchased 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 owns 31,542 shares in the company, valued at $5,000,037.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Snowflake news, CRO Christopher William Degnan sold 12,533 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total value of $2,507,101.32. Following the sale, the executive now owns 98,172 shares of the company’s stock, valued at $19,638,326.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sridhar Ramaswamy bought 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 168,209 shares of company stock valued at $34,291,592. 8.30% of the stock is currently owned by company insiders.

Snowflake Profile

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.