Snowflake Inc. (NYSE:SNOW) Stock Holdings Trimmed by Exane Derivatives

Exane Derivatives decreased its holdings in Snowflake Inc. (NYSE:SNOWGet Rating) by 70.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 306 shares of the company’s stock after selling 736 shares during the quarter. Exane Derivatives’ holdings in Snowflake were worth $43,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in Snowflake in the fourth quarter worth about $680,165,000. Scgf Iii Management LLC acquired a new stake in Snowflake in the fourth quarter worth about $673,471,000. Capital Research Global Investors lifted its holdings in Snowflake by 39.2% in the fourth quarter. Capital Research Global Investors now owns 6,816,310 shares of the company’s stock worth $2,309,039,000 after purchasing an additional 1,919,350 shares during the period. BlackRock Inc. lifted its holdings in Snowflake by 18.2% in the first quarter. BlackRock Inc. now owns 11,379,286 shares of the company’s stock worth $2,607,336,000 after purchasing an additional 1,751,250 shares during the period. Finally, Lone Pine Capital LLC acquired a new stake in Snowflake in the fourth quarter worth about $557,799,000. Institutional investors own 66.74% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, Director John Dennis Mcmahon sold 1,224 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $155.44, for a total transaction of $190,258.56. Following the completion of the sale, the director now owns 55,659 shares of the company’s stock, valued at $8,651,634.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John Dennis Mcmahon sold 1,224 shares of the stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $155.44, for a total value of $190,258.56. Following the completion of the sale, the director now directly owns 55,659 shares of the company’s stock, valued at $8,651,634.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 724 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $181.11, for a total value of $131,123.64. Following the completion of the sale, the insider now directly owns 15,512 shares of the company’s stock, valued at $2,809,378.32. The disclosure for this sale can be found here. Insiders sold 4,823 shares of company stock valued at $859,968 over the last 90 days. 8.90% of the stock is currently owned by company insiders.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $178.72 on Thursday. The stock has a market cap of $57.19 billion, a price-to-earnings ratio of -82.36 and a beta of 1.05. The business has a 50 day simple moving average of $167.05 and a 200 day simple moving average of $168.01. Snowflake Inc. has a 52 week low of $110.26 and a 52 week high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last announced its earnings results on Wednesday, August 24th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.16). The company had revenue of $497.25 million for the quarter, compared to the consensus estimate of $466.03 million. Snowflake had a negative return on equity of 12.57% and a negative net margin of 41.25%. On average, analysts predict that Snowflake Inc. will post -2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNOW. Barclays cut their price target on shares of Snowflake from $210.00 to $207.00 and set an “overweight” rating for the company in a report on Thursday, August 25th. Jefferies Financial Group raised shares of Snowflake from a “hold” rating to a “buy” rating and upped their price target for the company from $125.00 to $200.00 in a report on Tuesday, June 28th. UBS Group downgraded shares of Snowflake from a “buy” rating to a “neutral” rating and upped their price target for the company from $165.00 to $175.00 in a report on Tuesday, August 16th. Robert W. Baird upped their price target on shares of Snowflake from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Finally, Canaccord Genuity Group upped their price target on shares of Snowflake from $185.00 to $200.00 in a report on Thursday, August 25th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.94.

Snowflake Company Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

See Also

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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