Snowflake Inc. (NYSE:SNOW) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 2.2% during the third quarter, HoldingsChannel.com reports. The fund owned 2,860,882 shares of the company’s stock after selling 63,222 shares during the period. Baillie Gifford & Co.’s holdings in Snowflake were worth $328,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. LRI Investments LLC raised its holdings in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake in the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in Snowflake in the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new position in Snowflake during the 3rd quarter worth approximately $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in Snowflake during the 2nd quarter worth approximately $39,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several recent analyst reports. UBS Group decreased their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Scotiabank dropped their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of Snowflake in a report on Wednesday, October 2nd. Wells Fargo & Company dropped their price objective on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $172.09.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares in the company, valued at approximately $83,511,651.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 6,251 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 value of $715,051.89. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $23,877,196.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,538 shares of company stock valued at $7,061,544. Corporate insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW stock opened at $123.48 on Tuesday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The stock has a fifty day moving average price of $115.33 and a 200 day moving average price of $129.12. The stock has a market cap of $41.39 billion, a P/E ratio of -40.35 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share 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 for the quarter, compared to analyst estimates of $851.72 million. During the same period in the previous year, the business earned ($0.52) EPS. The firm’s revenue was up 28.9% on a year-over-year basis. Equities research analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

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.