Snowflake Inc. (NYSE:SNOW) Stock Position Increased by Plato Investment Management Ltd

Plato Investment Management Ltd grew its position in Snowflake Inc. (NYSE:SNOW) by 1,048.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,362 shares of the company’s stock after buying an additional 4,895 shares during the period. Plato Investment Management Ltd’s holdings in Snowflake were worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SNOW. LRI Investments LLC grew its holdings in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Snowflake in the second quarter worth $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the third quarter valued at $30,000. Fortitude Family Office LLC bought a new stake in shares of Snowflake during the third quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Snowflake in the second quarter worth about $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of several research analyst reports. Monness Crespi & Hardt raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Wednesday, November 6th. Morgan Stanley reissued an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, August 22nd. JMP Securities decreased their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Bank of America cut their price objective on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.09.

Snowflake Price Performance

NYSE:SNOW opened at $129.19 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company’s 50 day moving average is $116.03 and its 200-day moving average is $128.90.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the prior year, the firm posted ($0.52) EPS. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. Sell-side analysts forecast that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 59,538 shares of company stock valued at $7,061,544. Company insiders own 7.80% of the company’s stock.

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.