Snowflake Inc. (NYSE:SNOW) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. cut its stake in Snowflake Inc. (NYSE:SNOW) by 8.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,600 shares of the company’s stock after selling 9,000 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Snowflake were worth $14,996,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Snowflake in the fourth quarter valued at approximately $988,950,000. FMR LLC lifted its holdings in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. GQG Partners LLC purchased a new position in Snowflake in the 4th quarter valued at $750,572,000. Geode Capital Management LLC boosted its stake in Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock worth $642,742,000 after purchasing an additional 15,314 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after buying an additional 2,200,406 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Snowflake from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Daiwa Capital Markets initiated coverage on shares of Snowflake in a report on Tuesday, April 1st. They issued a “buy” rating and a $210.00 price objective for the company. Macquarie boosted their target price on Snowflake from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Jefferies Financial Group lifted their price objective on Snowflake from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $223.50.

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 2,599 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $210.07, for a total transaction of $545,971.93. Following the completion of the transaction, the chief accounting officer now directly owns 37,763 shares of the company’s stock, valued at approximately $7,932,873.41. This represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 903,058 shares of company stock valued at $170,730,711 in the last quarter. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $208.14 on Monday. The firm has a 50 day moving average of $176.54 and a two-hundred day moving average of $170.74. The stock has a market capitalization of $69.49 billion, a PE ratio of -61.40 and a beta of 1.21. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $214.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, research analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

About Snowflake

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.