Snowflake Inc. (NYSE:SNOW) Insider Sells $162,121.05 in Stock

Snowflake Inc. (NYSE:SNOW) insider Benoit Dageville sold 1,295 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.19, for a total transaction of $162,121.05. Following the completion of the transaction, the insider now owns 58,791 shares in the company, valued at $7,360,045.29. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Benoit Dageville also recently made the following trade(s):

• On Tuesday, June 11th, Benoit Dageville sold 558 shares of Snowflake stock. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98.

Snowflake Stock Up 4.0 %

SNOW stock opened at $129.14 on Thursday. The business has a fifty day moving average price of $146.63 and a 200 day moving average price of $174.37. Snowflake Inc. has a fifty-two week low of $122.60 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The business had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Equities analysts anticipate that Snowflake Inc. will post -2.28 EPS for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and set a $235.00 price objective on shares of Snowflake in a research report on Tuesday, June 4th. Robert W. Baird reduced their price objective on Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price on the stock in a research report on Thursday, May 2nd. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Finally, Citigroup dropped their price objective on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $199.03.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently modified their holdings of SNOW. Vanguard Group Inc. increased 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 in the last quarter. Jennison Associates LLC increased its stake in shares of Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after buying an additional 249,249 shares during the period. Sands Capital Management LLC raised its position in shares of Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after acquiring an additional 610,970 shares during the last quarter. Norges Bank acquired a new position in shares of Snowflake during the fourth quarter valued at $838,455,000. Finally, Northern Trust Corp boosted its holdings in Snowflake by 5.4% in the third quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock valued at $287,556,000 after acquiring an additional 95,814 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

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.