Snowflake Inc. (SNOW)

Meridian Wealth Management LLC Takes $288,000 Position in Snowflake Inc. (NYSE:SNOW)

Meridian Wealth Management LLC acquired a new position in Snowflake Inc. (NYSE:SNOW – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,446 shares of the company’s stock, valued at approximately $288,000. Several other institutional investors and hedge funds also recently bought and sold shares of SNOW. Vanguard Group Inc. increased its position in Snowflake by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after purchasing an additional 743,211 shares during the last quarter. FMR LLC lifted its stake in Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares during the last quarter. Northern Trust Corp grew its position in Snowflake by 5.4% in the third quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock worth $287,556,000 after acquiring an additional 95,814 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Snowflake by 69.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after purchasing an additional 623,277 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at $226,302,000. Hedge funds and other institutional investors own 65.10% of the company’s stock. Insider Activity at Snowflake In related news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the sale, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark D. Mclaughlin purchased 3,030 shares of the stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $165.45 per share, with a total value of $501,313.50. Following the completion of the purchase, the director now owns 11,687 shares in the company, valued at $1,933,614.15. The disclosure for this purchase can be found here. Insiders have sold a total of 62,380 shares of company stock worth $9,803,625 over the last 90 days. Insiders own 8.30% of the company’s stock. Wall Street Analyst Weigh In SNOW has been the subject of a number of analyst reports. Wedbush boosted their price target on Snowflake from $144.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Oppenheimer dropped their target price on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Macquarie upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and upped their price target for the company from $182.00 to $205.00 in a report on Thursday, February 29th. 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 note on Thursday, February 29th. Finally, Stifel Nicolaus decreased their target price on Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.43. Check Out Our Latest Analysis on SNOW Snowflake Trading Down 1.9 % Shares of SNOW stock opened at $161.86 on Monday. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72. The firm’s 50 day moving average is $157.04 and its 200-day moving average is $180.14. The firm has a market capitalization of $54.09 billion, a price-to-earnings ratio of -63.47 and a beta of 0.90. Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. On average, equities research analysts forecast that Snowflake Inc. will post -1.83 earnings per share for the current fiscal year. Snowflake Profile (Free Report) 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.