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

Snowflake Inc. (NYSE:SNOW) insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 %

Shares of Snowflake stock opened at $110.26 on Friday. The stock’s fifty day moving average price is $120.87 and its 200-day moving average price is $139.56. The firm has a market cap of $36.96 billion, a P/E ratio of -39.38 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the previous year, the business posted ($0.52) EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Analysts forecast that Snowflake Inc. will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SNOW shares. JMP Securities reduced their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. UBS Group reduced their price objective on Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company lowered their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Evercore ISI reduced their price target on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Needham & Company LLC lowered their price objective on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $176.03.

Institutional Trading of Snowflake

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Snowflake by 5.6% during the 4th 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. Principal Financial Group Inc. lifted its position in shares of Snowflake by 17.5% during the fourth quarter. Principal Financial Group Inc. now owns 97,788 shares of the company’s stock valued at $19,460,000 after buying an additional 14,542 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Snowflake by 26.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 33,529 shares of the company’s stock valued at $6,672,000 after buying an additional 7,033 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Snowflake by 67.5% in the 4th quarter. Quadrant Capital Group LLC now owns 355 shares of the company’s stock valued at $71,000 after buying an additional 143 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter worth approximately $269,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.