Snowflake Inc. (NYSE:SNOW) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia decreased its holdings in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 97.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,485 shares of the company’s stock after selling 111,531 shares during the period. Bank of Nova Scotia’s holdings in Snowflake were worth $485,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SNOW. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Snowflake by 27.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,247 shares of the company’s stock valued at $5,556,000 after buying an additional 5,260 shares during the last quarter. Keybank National Association OH increased its position in Snowflake by 131.3% during the 2nd quarter. Keybank National Association OH now owns 35,209 shares of the company’s stock worth $4,896,000 after buying an additional 19,990 shares during the period. AE Wealth Management LLC boosted its stake in Snowflake by 205.1% in the second quarter. AE Wealth Management LLC now owns 5,443 shares of the company’s stock valued at $757,000 after buying an additional 3,659 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Snowflake by 0.7% during the first quarter. Victory Capital Management Inc. now owns 13,338 shares of the company’s stock valued at $2,287,000 after purchasing an additional 93 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Snowflake during the second quarter valued at approximately $208,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $131,123.64. Following the completion of the sale, the insider now owns 15,512 shares of the company’s stock, valued at approximately $2,809,378.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Teresa Briggs sold 1,224 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $195.73, for a total value of $239,573.52. Following the completion of the transaction, the director now owns 2,217 shares of the company’s stock, valued at $433,933.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 724 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 15,512 shares of the company’s stock, valued at approximately $2,809,378.32. The disclosure for this sale can be found here. Insiders sold 3,599 shares of company stock valued at $669,710 in the last quarter. 8.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SNOW has been the topic of several research analyst reports. Moffett Nathanson began coverage on Snowflake in a research report on Thursday, September 22nd. They issued a “buy” rating and a $242.00 price objective on the stock. Piper Sandler cut their price objective on Snowflake from $220.00 to $218.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Oppenheimer lifted their price objective on Snowflake from $200.00 to $230.00 in a research note on Thursday, August 25th. Cowen boosted their price target on Snowflake from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 25th. Finally, Macquarie assumed coverage on Snowflake in a report on Wednesday, November 2nd. They issued a “neutral” rating and a $173.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.49.

Snowflake Trading Down 1.0 %

NYSE:SNOW opened at $146.20 on Monday. Snowflake Inc. has a 1-year low of $110.26 and a 1-year high of $400.60. The firm has a fifty day simple moving average of $166.32 and a 200 day simple moving average of $155.37. The stock has a market capitalization of $46.78 billion, a PE ratio of -67.37 and a beta of 0.86.

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

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.

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Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOWGet Rating).

Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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