abrdn plc Buys 60,710 Shares of Snowflake Inc. (NYSE:SNOW)

abrdn plc increased its stake in Snowflake Inc. (NYSE:SNOW) by 53.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 174,390 shares of the company’s stock after purchasing an additional 60,710 shares during the quarter. abrdn plc’s holdings in Snowflake were worth $34,704,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Ulland Investment Advisors LLC raised its holdings in Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after acquiring an additional 135 shares during the period. Provence Wealth Management Group bought a new stake in Snowflake during the third quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Snowflake by 54.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after acquiring an additional 72 shares during the period. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Snowflake by 89.0% in the third 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 during the last quarter. Finally, M&R Capital Management Inc. increased its holdings in shares of Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNOW has been the topic of several research reports. Truist Financial reduced their target price on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Monday. Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $182.00 to $205.00 in a report on Thursday, February 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $125.00 price target (down previously from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Stock Up 1.2 %

Snowflake stock opened at $147.21 on Tuesday. Snowflake Inc. has a fifty-two week low of $135.26 and a fifty-two week high of $237.72. The company has a 50 day moving average price of $176.10 and a 200-day moving average price of $179.38.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The company 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%. As a group, analysts predict that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the sale, the senior vice president now directly owns 726,567 shares of the company’s stock, valued at $167,110,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at $4,457,133.14. The disclosure for this sale can be found here. Insiders sold 178,209 shares of company stock valued at $36,391,592 over the last 90 days. Corporate insiders own 8.30% of the company’s stock.

Snowflake 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.