Benoit Dageville Sells 1,946 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) insider Benoit Dageville sold 1,946 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. 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 Friday, June 21st, Benoit Dageville sold 1,295 shares of Snowflake stock. The shares were sold at an average price of $125.19, for a total value of $162,121.05.

Snowflake Stock Down 0.8 %

SNOW traded down $0.85 on Wednesday, hitting $110.78. 6,474,586 shares of the company traded hands, compared to its average volume of 6,563,695. The company has a 50 day moving average of $121.87 and a 200-day moving average of $140.21. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The stock has a market capitalization of $37.09 billion, a PE ratio of -39.56 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share 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 for the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the firm posted ($0.52) EPS. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. On average, research analysts anticipate that Snowflake Inc. will post -2.42 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. Commerce Bank raised its stake in shares of Snowflake by 0.8% during the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after buying an additional 51 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Snowflake by 0.5% during the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock worth $2,179,000 after purchasing an additional 70 shares during the period. Covestor Ltd lifted its stake in shares of Snowflake by 25.0% in the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares during the period. IAM Advisory LLC boosted its holdings in Snowflake by 2.0% during the first quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after buying an additional 74 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC grew its position in Snowflake by 2.6% during the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after buying an additional 75 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group dropped their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. UBS Group cut their price target on shares of Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Sanford C. Bernstein lifted their price objective on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Wells Fargo & Company decreased their price target on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Finally, Stifel Nicolaus reduced their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.