Curi RMB Capital LLC Has $3 Million Position in Snowflake Inc. (NYSE:SNOW)

Curi RMB Capital LLC boosted its position in Snowflake Inc. (NYSE:SNOW) by 19.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,112 shares of the company’s stock after buying an additional 4,163 shares during the quarter. Curi RMB Capital LLC’s holdings in Snowflake were worth $2,999,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of SNOW. Vanguard Group Inc. raised its holdings in shares of Snowflake by 1.4% in the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after purchasing an additional 297,428 shares during the last quarter. Legal & General Group Plc increased its stake in Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares during the last quarter. Swedbank AB bought a new stake in Snowflake during the 1st quarter worth about $258,957,000. Bank of New York Mellon Corp boosted its stake in shares of Snowflake by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after buying an additional 8,743 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after acquiring an additional 600,469 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SNOW. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Barclays lowered their target price on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. JMP Securities decreased their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus reduced their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.09.

Snowflake Stock Performance

NYSE SNOW opened at $129.19 on Friday. The business has a fifty day moving average price of $116.03 and a two-hundred day moving average price of $128.90. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data 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. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the firm posted ($0.52) earnings per share. Snowflake’s revenue was up 28.9% compared to the same quarter last year. As a group, research analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 in the last quarter. Insiders own 7.80% 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, as well as applies artificial intelligence (AI) for solving business problems.