Snowflake Inc. (NYSE:SNOW) Insider Sells $222,602.94 in Stock

Snowflake Inc. (NYSE:SNOW) insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, June 21st, Benoit Dageville sold 1,295 shares of Snowflake stock. The shares were sold at an average price of $125.19, for a total transaction of $162,121.05.

Snowflake Trading Down 3.3 %

Snowflake stock opened at $110.26 on Friday. The firm has a market capitalization of $36.96 billion, a P/E ratio of -39.38 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The stock’s fifty day simple moving average is $120.87 and its 200-day simple moving average is $139.56.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate 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 was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.52) EPS. Sell-side analysts predict that Snowflake Inc. will post -2.42 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Snowflake during the 1st quarter worth $258,957,000. Vanguard Group Inc. raised its stake in Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after buying an additional 1,559,830 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Snowflake in the first quarter valued at $171,608,000. Cibc World Markets Corp purchased a new stake in Snowflake during the 4th quarter worth about $147,120,000. Finally, AQR Capital Management LLC boosted its position in shares of Snowflake by 210.0% during the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Loop Capital dropped their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Stifel Nicolaus cut their price objective on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Morgan Stanley restated an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, August 22nd. Jefferies Financial Group cut their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price target on shares of Snowflake in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

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.