Snowflake Inc. (NYSE:SNOW) Shares Sold by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. lessened its position in Snowflake Inc. (NYSE:SNOW) by 46.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,660 shares of the company’s stock after selling 2,279 shares during the period. ST Germain D J Co. Inc.’s holdings in Snowflake were worth $306,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Swedbank AB purchased a new stake in Snowflake in the 1st quarter valued at about $258,957,000. Vaughan Nelson Investment Management L.P. acquired a new position in Snowflake during the first quarter worth approximately $171,608,000. AQR Capital Management LLC raised its stake in Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after purchasing an additional 660,168 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Snowflake by 471.9% in the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Snowflake by 90.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after buying an additional 600,469 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $165.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Needham & Company LLC decreased their target price on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Jefferies Financial Group dropped their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” 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, Bank of America dropped their price objective on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.74.

Snowflake Stock Performance

NYSE SNOW opened at $119.54 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a 50-day simple moving average of $116.65 and a 200-day simple moving average of $133.15. The firm has a market capitalization of $40.02 billion, a PE ratio of -42.69 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business 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%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.52) EPS. Equities analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares of the company’s stock, valued at $86,610,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction on 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 owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the transaction, the executive vice president now directly owns 721,755 shares in the company, valued at $86,610,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is owned by insiders.

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.