GM Advisory Group LLC Grows Holdings in Snowflake Inc. (NYSE:SNOW)

GM Advisory Group LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 24.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,418 shares of the company’s stock after purchasing an additional 854 shares during the period. GM Advisory Group LLC’s holdings in Snowflake were worth $507,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC raised its stake in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new position in Snowflake during the 2nd quarter worth $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter worth $30,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake in the third quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the second quarter worth about $39,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred 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 represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock worth $7,061,544 in the last ninety days. 7.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Tuesday. Royal Bank of Canada upped their price target on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and raised their price objective for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Piper Sandler restated an “overweight” rating and set a $185.00 target price (up from $165.00) on shares of Snowflake in a research report on Thursday. Finally, Bank of America lifted their price target on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Performance

NYSE:SNOW opened at $167.48 on Friday. The firm’s fifty day simple moving average is $120.06 and its 200 day simple moving average is $128.22. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 33.02% and a negative return on equity of 22.01%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.52) earnings per share. Sell-side analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current year.

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.