Prosperity Wealth Management Inc. Has $477,000 Position in Snowflake Inc. (NYSE:SNOW)

Prosperity Wealth Management Inc. grew its stake in Snowflake Inc. (NYSE:SNOW) by 3.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,395 shares of the company’s stock after acquiring an additional 90 shares during the period. Prosperity Wealth Management Inc.’s holdings in Snowflake were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Ulland Investment Advisors LLC increased its position in Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after buying an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Snowflake by 333.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Provence Wealth Management Group acquired a new stake in Snowflake in the 3rd quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Snowflake by 54.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after purchasing an additional 72 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. grew its position in shares of Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.1 %

SNOW traded down $1.68 during midday trading on Wednesday, hitting $150.30. 4,705,665 shares of the company were exchanged, compared to its average volume of 5,239,566. The firm’s 50 day moving average price is $182.44 and its 200-day moving average price is $179.47. Snowflake Inc. has a 1-year low of $135.26 and a 1-year high of $237.72. The firm has a market capitalization of $50.23 billion, a P/E ratio of -58.94 and a beta of 0.91.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, sell-side analysts predict that Snowflake Inc. will post -1.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Christopher William Degnan sold 2,346 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total transaction of $476,894.88. Following the completion of the sale, the executive now owns 102,007 shares of the company’s stock, valued at approximately $20,735,982.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the senior vice president now directly owns 736,567 shares of the company’s stock, valued at $162,044,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 2,346 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the transaction, the executive now directly owns 102,007 shares in the company, valued at approximately $20,735,982.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 179,055 shares of company stock worth $36,633,917. 8.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of analyst reports. Mizuho reiterated a “buy” rating and issued a $205.00 price target (down from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Canaccord Genuity Group reissued a “buy” rating and set a $230.00 target price on shares of Snowflake in a report on Thursday, February 29th. Oppenheimer dropped their price target on Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Finally, Bank of America reduced their price objective on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Company 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.