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

Cwm LLC lessened its stake in shares of Snowflake Inc. (NYSE:SNOW) by 0.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 102,799 shares of the company’s stock after selling 690 shares during the period. Cwm LLC’s holdings in Snowflake were worth $20,457,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SNOW. PNC Financial Services Group Inc. lifted its holdings in shares of Snowflake by 79.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,293 shares of the company’s stock valued at $984,000 after purchasing an additional 1,897 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Snowflake in the first quarter valued at $2,880,000. Panagora Asset Management Inc. lifted its holdings in shares of Snowflake by 24.8% in the first quarter. Panagora Asset Management Inc. now owns 2,718 shares of the company’s stock valued at $623,000 after purchasing an additional 540 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in shares of Snowflake in the first quarter valued at $362,000. Finally, Cibc World Market Inc. lifted its holdings in shares of Snowflake by 37.2% in the first quarter. Cibc World Market Inc. now owns 13,959 shares of the company’s stock valued at $3,198,000 after purchasing an additional 3,783 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the transaction, the executive vice president now directly owns 774,097 shares in the company, valued at $121,053,288.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Frank Slootman sold 86,078 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the sale, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The disclosure for this sale can be found here. Insiders have sold a total of 180,555 shares of company stock worth $36,868,487 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $145.45 on Monday. The firm has a market cap of $48.61 billion, a P/E ratio of -57.04 and a beta of 0.91. Snowflake Inc. has a twelve month low of $135.26 and a twelve month high of $237.72. The firm’s 50-day simple moving average is $177.80 and its 200-day simple moving average is $179.41.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, equities analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the subject of a number of research analyst reports. Truist Financial reduced their target price on Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Royal Bank of Canada lowered their target price on Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Bank of America cut their price target on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Citigroup lowered their price target on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Finally, JMP Securities raised their price objective on shares of Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.00.

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.