Snowflake Inc. (NYSE:SNOW) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,974,335 shares of the company's stock after selling 153,860 shares during the period. Jennison Associates LLC owned about 1.19% of Snowflake worth $456,492,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SNOW. Legal & General Group Plc raised its holdings in shares of Snowflake by 11.5% during the 2nd 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. Swedbank AB purchased a new stake in Snowflake during the 1st quarter valued at about $258,957,000. Bank of New York Mellon Corp grew its position in Snowflake by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company's stock worth $216,142,000 after acquiring an additional 8,743 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company's stock worth $170,938,000 after purchasing an additional 600,469 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Snowflake by 96.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,045,409 shares of the company's stock valued at $120,076,000 after purchasing an additional 513,214 shares during the period. 65.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

SNOW has been the topic of several analyst reports. Evercore ISI decreased their target price on shares of Snowflake from $225.00 to $170.00 and set an "outperform" rating on the stock in a research note on Monday, August 19th. StockNews.com upgraded shares of Snowflake from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. JMP Securities reduced their target price on Snowflake from $235.00 to $190.00 and set a "market outperform" rating on the stock in a report on Thursday, August 22nd. Jefferies Financial Group decreased their price objective on Snowflake from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Finally, KeyCorp decreased their target price on shares of Snowflake from $168.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $171.59.

Snowflake Stock Performance

NYSE SNOW traded down $1.12 on Wednesday, reaching $129.12. 8,843,520 shares of the company's stock traded hands, compared to its average volume of 6,464,762. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm has a market cap of $43.28 billion, a price-to-earnings ratio of -42.57 and a beta of 0.83. The stock has a 50 day moving average price of $117.48 and a 200-day moving average price of $127.89.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $868.80 million for the quarter, compared to analysts' expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.52) EPS. As a group, equities research analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 1,606 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares of the company's stock, valued at approximately $86,610,600. This represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 59,538 shares of company stock worth $7,061,544. Corporate insiders own 7.80% of the company's stock.

Snowflake 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.