Snowflake Inc. (NYSE:SNOW) Insider Benoit Dageville Sells 1,946 Shares of 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 shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $125.19, for a total value of $162,121.05.

Snowflake Stock Performance

NYSE:SNOW opened at $110.78 on Thursday. The company has a market cap of $37.09 billion, a price-to-earnings ratio of -39.56 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The stock has a fifty day moving average price of $121.87 and a 200-day moving average price of $140.21.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period in the prior year, the company posted ($0.52) earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. Research analysts predict that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Institutional Trading of Snowflake

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after acquiring an additional 297,428 shares during the last quarter. Jennison Associates LLC increased its position in shares of Snowflake by 3.7% during the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after buying an additional 249,249 shares during the period. Sands Capital Management LLC raised its stake in Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after buying an additional 610,970 shares during the last quarter. Legal & General Group Plc lifted its holdings in Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares during the period. Finally, WCM Investment Management LLC boosted its position in Snowflake by 0.6% during the first quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock valued at $298,644,000 after acquiring an additional 11,677 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Scotiabank decreased their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. UBS Group dropped their target price on Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Citigroup dropped their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Two 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

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.