Snowflake Inc. (NYSE:SNOW) Insider Sells $31,974.67 in Stock

Snowflake Inc. (NYSE:SNOW) insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares in the company, valued at $5,932,582.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 17th, Benoit Dageville sold 1,946 shares of Snowflake stock. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94.

Snowflake Stock Down 0.2 %

SNOW opened at $112.43 on Friday. The business’s fifty day simple moving average is $119.19 and its 200 day simple moving average is $138.07. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The stock has a market cap of $37.69 billion, a PE ratio of -40.15 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.52) EPS. As a group, equities analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current year.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently made changes to their positions in SNOW. Dimensional Fund Advisors LP lifted its stake in Snowflake by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock worth $39,697,000 after purchasing an additional 10,575 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of Snowflake by 18.1% in the fourth quarter. D.A. Davidson & CO. now owns 4,847 shares of the company’s stock worth $965,000 after buying an additional 744 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Snowflake by 14.1% in the fourth quarter. Corient Private Wealth LLC now owns 18,904 shares of the company’s stock worth $3,762,000 after buying an additional 2,332 shares during the period. Assetmark Inc. lifted its stake in shares of Snowflake by 13.8% in the 4th quarter. Assetmark Inc. now owns 2,858 shares of the company’s stock valued at $569,000 after acquiring an additional 346 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Snowflake by 50.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 357 shares of the company’s stock valued at $71,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird decreased their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Royal Bank of Canada lowered their target price on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Evercore ISI cut their price target on Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. UBS Group decreased their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Scotiabank cut their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.17.

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.