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

TCW Group Inc. lowered its stake in Snowflake Inc. (NYSE:SNOW) by 8.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 380,356 shares of the company’s stock after selling 32,913 shares during the quarter. TCW Group Inc. owned 0.12% of Snowflake worth $75,702,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Provence Wealth Management Group acquired a new stake in Snowflake in the 3rd quarter valued at approximately $30,000. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after buying an additional 97 shares during the period. M&R Capital Management Inc. lifted its stake in Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after buying an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in Snowflake by 154.8% during the 3rd quarter. Valley National Advisers Inc. now owns 293 shares of the company’s stock worth $45,000 after purchasing an additional 178 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the transaction, the executive vice president now owns 772,597 shares in the company, valued at $124,504,006.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the transaction, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,380 shares of company stock worth $9,803,625. Company insiders own 8.30% of the company’s stock.

Snowflake Trading Down 5.4 %

SNOW stock traded down $8.76 during midday trading on Thursday, reaching $154.58. The company had a trading volume of 19,393,272 shares, compared to its average volume of 6,169,697. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72. The company has a 50 day moving average of $157.13 and a two-hundred day moving average of $180.26. The company has a market capitalization of $51.66 billion, a P/E ratio of -59.95 and a beta of 0.90.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. On average, sell-side analysts anticipate that Snowflake Inc. will post -1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Rosenblatt Securities raised their price target on Snowflake from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. KeyCorp raised their target price on Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Finally, UBS Group upped their price objective on shares of Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.19.

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.