Coldstream Capital Management Inc. Acquires 319 Shares of Snowflake Inc. (NYSE:SNOW)

Coldstream Capital Management Inc. raised its holdings in Snowflake Inc. (NYSE:SNOW) by 23.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,652 shares of the company’s stock after acquiring an additional 319 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Snowflake were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Snowflake during the 4th quarter worth $838,455,000. FMR LLC grew its position in shares of Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after buying an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC bought a new position in shares of Snowflake during the 3rd quarter worth $226,302,000. Trivest Advisors Ltd bought a new position in shares of Snowflake during the 4th quarter worth $173,747,000. Finally, Vanguard Group Inc. boosted its position in Snowflake by 4.0% during the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock valued at $2,968,152,000 after purchasing an additional 743,211 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 1.0 %

Shares of SNOW stock opened at $156.16 on Friday. The stock has a 50 day moving average of $157.03 and a 200 day moving average of $180.31. The stock has a market cap of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. On average, research analysts predict that Snowflake Inc. will post -1.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNOW. JMP Securities reaffirmed a “market outperform” rating and set a $235.00 price objective on shares of Snowflake in a research report on Friday, May 17th. Mizuho reaffirmed a “buy” rating and set a $205.00 price objective (down previously from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Royal Bank of Canada dropped their price objective on Snowflake from $246.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, May 20th. UBS Group raised their price objective on Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Evercore ISI dropped their price objective on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.64.

Insider Activity at Snowflake

In other Snowflake news, Director Mark D. Mclaughlin acquired 3,030 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $165.45 per share, with a total value of $501,313.50. Following the completion of the acquisition, the director now owns 11,687 shares in the company, valued at $1,933,614.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snowflake news, Director Mark D. Mclaughlin acquired 3,030 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $165.45 per share, with a total value of $501,313.50. Following the completion of the acquisition, the director now owns 11,687 shares in the company, valued at $1,933,614.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at $4,457,133.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is owned by corporate insiders.

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.