62,383 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. acquired a new position in Snowflake Inc. (NYSE:SNOW) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 62,383 shares of the company’s stock, valued at approximately $7,165,000. Snowflake accounts for 1.0% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 13th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after buying an additional 70 shares in the last quarter. Joseph P. Lucia & Associates LLC lifted its position in Snowflake by 2.6% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after buying an additional 75 shares in the last quarter. Modus Advisors LLC lifted its position in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares in the last quarter. Iron Gate Global Advisors LLC raised its holdings in shares of Snowflake by 0.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after purchasing an additional 105 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 3.4 %

Snowflake stock opened at $115.51 on Wednesday. The stock has a market capitalization of $38.67 billion, a PE ratio of -41.25 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a 50 day moving average of $116.35 and a 200-day moving average of $132.52.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. Equities analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the sale, the insider now owns 53,250 shares of the company’s stock, valued at $5,932,582.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the sale, the insider now directly owns 53,250 shares in the company, valued at $5,932,582.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,049,994 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, October 3rd. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and raised their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Stifel Nicolaus lowered their target price on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. TD Cowen decreased their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Finally, Wedbush upgraded shares of Snowflake to a “hold” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

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.