Hillman Co. Takes $3.15 Million Position in Snowflake Inc. (NYSE:SNOW)

Hillman Co. purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,446 shares of the company’s stock, valued at approximately $3,152,000. Snowflake comprises approximately 1.4% of Hillman Co.’s investment portfolio, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNOW. Covestor Ltd boosted its stake in Snowflake by 25.0% in the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after acquiring an additional 70 shares during the last quarter. IAM Advisory LLC boosted its stake in Snowflake by 2.0% in the first quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock valued at $600,000 after acquiring an additional 74 shares during the last quarter. Joseph P. Lucia & Associates LLC boosted its stake in Snowflake by 2.6% in the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock valued at $478,000 after acquiring an additional 75 shares during the last quarter. Modus Advisors LLC boosted its stake in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the last quarter. Finally, Iron Gate Global Advisors LLC boosted its stake in Snowflake by 0.9% in the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after acquiring an additional 105 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Down 3.0 %

Shares of Snowflake stock traded down $3.59 during trading on Tuesday, reaching $115.97. The company’s stock had a trading volume of 2,230,012 shares, compared to its average volume of 6,606,720. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company has a market cap of $38.83 billion, a price-to-earnings ratio of -41.88 and a beta of 0.83. The firm’s 50-day moving average is $116.58 and its two-hundred day moving average is $132.79.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results 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. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.52) EPS. On average, equities research analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,049,994 in the last quarter. Company insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on SNOW shares. Piper Sandler reissued an “overweight” rating and issued a $165.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Wells Fargo & Company lowered their price target on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. UBS Group lowered their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Finally, Bank of America lowered their price target on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.74.

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.