AJOVista LLC Buys Shares of 524 Snowflake Inc. (NYSE:SNOW)

AJOVista LLC purchased a new position in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 524 shares of the company’s stock, valued at approximately $104,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its holdings in Snowflake by 6.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock valued at $8,152,000 after acquiring an additional 3,124 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Snowflake by 28.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 89,735 shares of the company’s stock valued at $13,709,000 after purchasing an additional 19,745 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in Snowflake by 139.8% during the third quarter. Stratos Wealth Partners LTD. now owns 4,818 shares of the company’s stock worth $736,000 after buying an additional 2,809 shares in the last quarter. Stratos Wealth Advisors LLC acquired a new position in Snowflake during the third quarter worth $398,000. Finally, Bank of New York Mellon Corp grew its holdings in Snowflake by 5.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,668,797 shares of the company’s stock valued at $254,942,000 after buying an additional 79,825 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE SNOW traded up $1.55 during trading on Friday, reaching $159.32. The company’s stock had a trading volume of 3,660,233 shares, compared to its average volume of 4,335,201. The business’s fifty day moving average price is $163.20 and its 200-day moving average price is $178.80. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72. The firm has a market cap of $53.24 billion, a price-to-earnings ratio of -62.48 and a beta of 0.90.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. The firm 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%. As a group, sell-side analysts forecast that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Activity

In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the transaction, the senior vice president now directly owns 726,567 shares of the company’s stock, valued at approximately $167,110,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the purchase, the chief executive officer now directly owns 31,542 shares in the company, valued at $5,000,037.84. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the transaction, the senior vice president now owns 726,567 shares of the company’s stock, valued at approximately $167,110,410. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,458 shares of company stock valued at $33,785,640. Company insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Bank of America decreased their price target on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Needham & Company LLC cut 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. Finally, Citigroup decreased their target price on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.77.

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.