Snowflake Inc. (NYSE:SNOW) Stake Reduced by Slow Capital Inc.

Slow Capital Inc. lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,882 shares of the company’s stock after selling 464 shares during the quarter. Slow Capital Inc.’s holdings in Snowflake were worth $4,156,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Snowflake by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after acquiring an additional 743,211 shares during the period. BlackRock Inc. lifted its holdings in shares of Snowflake by 3.1% in the first quarter. BlackRock Inc. now owns 13,414,226 shares of the company’s stock valued at $2,069,681,000 after buying an additional 400,044 shares during the period. FMR LLC lifted its holdings in shares of Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after buying an additional 1,496,235 shares during the period. State Street Corp lifted its holdings in shares of Snowflake by 3.0% in the first quarter. State Street Corp now owns 5,782,936 shares of the company’s stock valued at $892,229,000 after buying an additional 165,875 shares during the period. Finally, Norges Bank acquired a new stake in shares of Snowflake in the fourth quarter valued at $477,435,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sridhar Ramaswamy bought 31,542 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the acquisition, the chief executive officer now owns 31,542 shares in the company, valued at approximately $5,000,037.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,055 shares of company stock worth $36,633,917. 8.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $250.00 price objective on shares of Snowflake in a report on Tuesday, February 27th. JPMorgan Chase & Co. cut their price objective on Snowflake from $200.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Bank of America cut their price objective on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Needham & Company LLC cut their price objective on Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and upped their target price for the company from $182.00 to $205.00 in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Trading Down 1.1 %

NYSE:SNOW traded down $1.68 during mid-day trading on Wednesday, hitting $150.30. 4,705,665 shares of the company’s stock traded hands, compared to its average volume of 5,239,566. The firm has a 50 day moving average of $182.44 and a two-hundred day moving average of $179.47. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72. The firm has a market capitalization of $50.23 billion, a price-to-earnings ratio of -58.94 and a beta of 0.91.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. As a group, equities research analysts expect that Snowflake Inc. will post -1.92 earnings per share for the current year.

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.