ING Groep NV decreased its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 43.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,000 shares of the company's stock after selling 104,897 shares during the period. ING Groep NV's holdings in Snowflake were worth $15,621,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. LRI Investments LLC acquired a new stake in Snowflake during the 1st quarter valued at approximately $29,000. Wellington Shields Capital Management LLC bought a new position in Snowflake during the second quarter worth $27,000. V Square Quantitative Management LLC acquired a new position in Snowflake in the third quarter valued at $30,000. Global Financial Private Client LLC bought a new stake in Snowflake during the first quarter valued at $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Snowflake during the 2nd quarter worth about $39,000. 65.10% of the stock is currently owned by institutional investors.
Snowflake Stock Performance
SNOW stock traded down $4.56 during mid-day trading on Friday, hitting $124.71. The company had a trading volume of 2,421,512 shares, compared to its average volume of 6,460,490. The firm has a market cap of $41.80 billion, a PE ratio of -42.22 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock's fifty day moving average price is $116.38 and its two-hundred day moving average price is $128.90.
Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 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 company had revenue of $868.80 million for the quarter, compared to analysts' expectations of $851.72 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. Snowflake's revenue was up 28.9% on a year-over-year basis. Equities analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current year.
Insider Activity
In other Snowflake news, insider Benoit Dageville sold 287 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction 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 trade was a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 in the last 90 days. Insiders own 7.80% of the company's stock.
Analyst Ratings Changes
SNOW has been the topic of a number of recent analyst reports. Hsbc Global Res raised Snowflake from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 23rd. UBS Group dropped their price target on Snowflake from $155.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. Rosenblatt Securities reaffirmed a "buy" rating and set a $180.00 price objective on shares of Snowflake in a research report on Wednesday, October 2nd. Scotiabank dropped their target price on shares of Snowflake from $195.00 to $165.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 22nd. Finally, Loop Capital reduced their price target on shares of Snowflake from $225.00 to $185.00 and set a "buy" rating for the company in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the company's stock. According to MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus price target of $172.09.
Read Our Latest Stock Analysis on Snowflake
Snowflake Company Profile
(
Free Report)
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.
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