Snowflake Inc. (NYSE:SNOW) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC cut its position in Snowflake Inc. (NYSE:SNOWGet Rating) by 69.7% during the first quarter, HoldingsChannel.com reports. The fund owned 6,650 shares of the company’s stock after selling 15,270 shares during the period. Verition Fund Management LLC’s holdings in Snowflake were worth $1,524,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. SC US Ttgp LTD. boosted its stake in shares of Snowflake by 13.5% in the first quarter. SC US Ttgp LTD. now owns 13,709,218 shares of the company’s stock worth $3,141,193,000 after acquiring an additional 1,634,929 shares during the last quarter. BlackRock Inc. increased its stake in shares of Snowflake by 18.2% in the 1st quarter. BlackRock Inc. now owns 11,379,286 shares of the company’s stock worth $2,607,336,000 after acquiring an additional 1,751,250 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Snowflake by 4.5% in the 1st quarter. Capital Research Global Investors now owns 7,122,568 shares of the company’s stock worth $1,632,004,000 after acquiring an additional 306,258 shares during the last quarter. Tiger Global Management LLC raised its holdings in shares of Snowflake by 13.6% during the 1st quarter. Tiger Global Management LLC now owns 6,841,769 shares of the company’s stock worth $1,567,655,000 after acquiring an additional 821,100 shares during the period. Finally, Sands Capital Management LLC boosted its position in shares of Snowflake by 24.2% during the 1st quarter. Sands Capital Management LLC now owns 5,367,215 shares of the company’s stock valued at $1,229,790,000 after acquiring an additional 1,047,041 shares during the last quarter. 66.74% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Up 1.6 %

Shares of NYSE:SNOW opened at $187.70 on Tuesday. The firm’s 50 day moving average price is $165.72 and its 200 day moving average price is $167.83. The stock has a market cap of $60.06 billion, a price-to-earnings ratio of -86.50 and a beta of 1.05. Snowflake Inc. has a fifty-two week low of $110.26 and a fifty-two week high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last issued its earnings results on Wednesday, August 24th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.16). Snowflake had a negative net margin of 41.25% and a negative return on equity of 12.57%. The firm had revenue of $497.25 million during the quarter, compared to analyst estimates of $466.03 million. On average, equities analysts anticipate that Snowflake Inc. will post -2 EPS for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of analyst reports. Capital One Financial initiated coverage on shares of Snowflake in a report on Friday, August 19th. They issued an “equal weight” rating and a $182.00 price objective for the company. Cowen upped their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. The Goldman Sachs Group upped their price objective on shares of Snowflake from $192.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Oppenheimer upped their price objective on shares of Snowflake from $200.00 to $230.00 in a report on Thursday, August 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Snowflake from $175.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.94.

Insiders Place Their Bets

In other Snowflake news, CEO Frank Slootman sold 1,651 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $299,012.61. Following the sale, the chief executive officer now owns 135,781 shares of the company’s stock, valued at $24,591,296.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Snowflake news, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $131,123.64. Following the sale, the insider now owns 15,512 shares of the company’s stock, valued at $2,809,378.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank Slootman sold 1,651 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $299,012.61. Following the transaction, the chief executive officer now owns 135,781 shares in the company, valued at $24,591,296.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,823 shares of company stock valued at $859,968. 8.90% of the stock is owned by corporate insiders.

Snowflake Company Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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