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

Snowflake Inc. (NYSE:SNOW) insider Benoit Dageville sold 287 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the sale, the insider now owns 53,250 shares of the company’s stock, valued at $5,932,582.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

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

Snowflake Stock Performance

NYSE SNOW traded down $0.58 on Tuesday, reaching $112.68. The stock had a trading volume of 9,258,244 shares, compared to its average volume of 6,672,816. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The business’s 50-day moving average price is $120.46 and its 200 day moving average price is $138.78. The stock has a market cap of $37.73 billion, a P/E ratio of -39.90 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter last year, the company earned ($0.52) earnings per share. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts predict that Snowflake Inc. will post -2.42 earnings per share for the current year.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Snowflake by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after purchasing an additional 297,428 shares in the last quarter. Jennison Associates LLC boosted its stake in Snowflake by 3.7% in the 1st 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 last quarter. Sands Capital Management LLC boosted its stake in Snowflake by 12.6% in the 4th 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 boosted its stake in Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after buying an additional 223,936 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in Snowflake by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock worth $298,644,000 after buying an additional 11,677 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SNOW shares. Evercore ISI cut their target price on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Scotiabank reduced 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 note on Thursday, August 22nd. UBS Group reduced their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price target on shares of Snowflake in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.17.

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.