Snowflake Inc snow Shares Take a Hit Despite Growing Confidence from Institutional Investor

Snowflake Inc. (SNOW) Shares Take a Hit Despite Growing Confidence from Institutional Investor

Shares of Snowflake Inc. (NYSE: SNOW) plunged over 7% on Wednesday. This decline is surprising, considering that Northeast Financial Consultants Inc. had bolstered its position in Snowflake shares by 64.2% during the fourth quarter, as reported in their 13F filing with the Securities and Exchange Commission (SEC).

Northeast Financial Consultants Inc. now holds a total of 3,508 shares in Snowflake, acquiring an additional 1,372 shares during the quarter. The total value of their holdings in Snowflake is estimated to be around $504,000 at the end of the most recent quarter.

This development follows a trend among various institutional investors who have been adjusting their positions in SNOW.

Gabelli Funds LLC

Gabelli Funds LLC increased its holdings in Snowflake by 11.0% during the fourth quarter, now owning 77,703 shares, valued at approximately $11,153,000 ($11.15M).

Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC entered the scene by purchasing a new position in Snowflake worth approximately $254,000 ($254K) during the fourth quarter.

Bessemer Group Inc.

Bessemer Group Inc. acquired 5,428 shares in the last quarter. This brings their total holdings to 348,289 SNOW shares, valued at $49,993,000 ($49.99M). This represents a 1.6% increase in their holdings compared to the previous quarter.

Thematics Asset Management

Thematics Asset Management also joined in by buying a new position worth about $15,421,000 ($15.42M) during the fourth quarter.

Panagora Asset Management Inc.

Finally, Panagora Asset Management Inc. demonstrated an 18.1% increase in its holdings during the fourth quarter. The firm now owns 20,655 shares, valued at $2,965,000 ($2.96M).