Snowflake Inc. (NYSE:SNOW) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in Snowflake Inc. (NYSE:SNOWGet Rating) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,106 shares of the company’s stock after selling 1,213 shares during the period. Principal Financial Group Inc.’s holdings in Snowflake were worth $17,675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Snowflake by 333.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Tcwp LLC acquired a new stake in shares of Snowflake in the first quarter valued at about $30,000. Geneos Wealth Management Inc. lifted its stake in shares of Snowflake by 822.2% in the first quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock valued at $38,000 after purchasing an additional 148 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in Snowflake by 1,800.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 190 shares of the company’s stock valued at $26,000 after acquiring an additional 180 shares in the last quarter. Finally, Bogart Wealth LLC increased its holdings in Snowflake by 6,433.3% during the 2nd quarter. Bogart Wealth LLC now owns 196 shares of the company’s stock valued at $27,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNOW shares. Barclays dropped their target price on shares of Snowflake from $207.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, November 18th. Macquarie started coverage on shares of Snowflake in a report on Wednesday, November 2nd. They set a “neutral” rating and a $173.00 target price for the company. Loop Capital raised their target price on shares of Snowflake from $180.00 to $210.00 in a report on Thursday, August 25th. UBS Group downgraded shares of Snowflake from a “buy” rating to a “neutral” rating and raised their target price for the company from $165.00 to $175.00 in a report on Tuesday, August 16th. Finally, Cowen raised their target price on shares of Snowflake from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.97.

Snowflake Stock Up 1.6 %

Shares of SNOW stock opened at $143.36 on Wednesday. Snowflake Inc. has a fifty-two week low of $110.26 and a fifty-two week high of $378.11. The firm’s 50 day moving average price is $165.24 and its two-hundred day moving average price is $155.20.

Snowflake (NYSE:SNOWGet Rating) last announced its quarterly earnings results on Wednesday, August 24th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $497.25 million for the quarter, compared to analyst estimates of $466.03 million. Analysts expect that Snowflake Inc. will post -2 EPS for the current year.

Insider Transactions at Snowflake

In other news, Director Teresa Briggs sold 1,224 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $195.73, for a total transaction of $239,573.52. Following the transaction, the director now directly owns 2,217 shares of the company’s stock, valued at $433,933.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Benoit Dageville sold 724 shares of the business’s stock in a transaction 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 transaction, the insider now directly 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 is available at the SEC website. Also, Director Teresa Briggs sold 1,224 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $195.73, for a total transaction of $239,573.52. Following the completion of the sale, the director now directly owns 2,217 shares in the company, valued at $433,933.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,599 shares of company stock valued at $669,710. Corporate insiders own 8.90% of the company’s stock.

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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