Snowflake Inc. (NYSE:SNOW) Insider Benoit Dageville Sells 287 Shares

Snowflake Inc. (NYSE:SNOW) insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Benoit Dageville also recently made the following trade(s):

• On Tuesday, September 17th, Benoit Dageville sold 1,946 shares of Snowflake stock. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $112.68 on Wednesday. The firm has a 50 day moving average price of $120.46 and a 200 day moving average price of $138.78. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the previous year, the company earned ($0.52) earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, sell-side analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of Snowflake in a report on Monday, August 19th. TD Cowen reduced their price objective on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and lifted their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Barclays cut their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, DA Davidson cut their price target on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.17.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Snowflake by 1.4% in the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after buying an additional 297,428 shares in the last quarter. Jennison Associates LLC lifted its stake in Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after buying an additional 249,249 shares in the last quarter. Sands Capital Management LLC lifted its stake in Snowflake by 12.6% in the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after buying an additional 610,970 shares in the last quarter. Legal & General Group Plc lifted its stake 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 in the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of Snowflake by 0.6% in the first quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock worth $298,644,000 after purchasing an additional 11,677 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

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.