DDD Partners LLC Has $4.29 Million Holdings in Snowflake Inc. (NYSE:SNOW)

DDD Partners LLC decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 2.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,579 shares of the company’s stock after selling 468 shares during the quarter. DDD Partners LLC’s holdings in Snowflake were worth $4,294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in Snowflake during the 4th quarter worth $477,435,000. FMR LLC increased its stake in shares of Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after purchasing an additional 1,496,235 shares during the last quarter. Winslow Capital Management LLC bought a new position in shares of Snowflake in the 3rd quarter valued at $226,302,000. Renaissance Technologies LLC acquired a new stake in shares of Snowflake during the 1st quarter valued at $176,499,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Snowflake by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock valued at $2,968,152,000 after acquiring an additional 743,211 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Citigroup decreased their target price on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Piper Sandler reissued an “overweight” rating and set a $250.00 price objective on shares of Snowflake in a report on Tuesday, February 27th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $230.00 price objective on shares of Snowflake in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.50.

Snowflake Stock Up 1.3 %

SNOW opened at $160.05 on Thursday. The stock has a market cap of $52.70 billion, a PE ratio of -62.76 and a beta of 0.94. Snowflake Inc. has a 52 week low of $134.17 and a 52 week high of $237.72. The business’s fifty day simple moving average is $195.94 and its 200 day simple moving average is $179.43.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.80% and a negative net margin of 29.79%. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. As a group, equities analysts anticipate that Snowflake Inc. will post -1.92 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the transaction, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Snowflake news, CRO Christopher William Degnan sold 3,800 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $200.13, for a total value of $760,494.00. Following the completion of the sale, the executive now directly owns 102,007 shares in the company, valued at $20,414,660.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction on Monday, March 25th. The stock was bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. Insiders sold a total of 184,355 shares of company stock worth $37,679,411 over the last three months. Company insiders own 8.30% of the company’s stock.

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.