Snowflake Inc. (NYSE:SNOW) Shares Sold by Capital Research Global Investors

Capital Research Global Investors trimmed its position in Snowflake Inc. (NYSE:SNOWFree Report) by 31.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,965,423 shares of the company’s stock after selling 1,806,828 shares during the period. Capital Research Global Investors owned about 1.20% of Snowflake worth $789,119,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Eisler Capital UK Ltd. acquired a new position in shares of Snowflake during the 4th quarter worth approximately $205,000. Edge Capital Group LLC boosted its holdings in shares of Snowflake by 7.9% during the 4th quarter. Edge Capital Group LLC now owns 5,478 shares of the company’s stock worth $1,090,000 after purchasing an additional 400 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Snowflake by 17.1% during the 4th quarter. Rafferty Asset Management LLC now owns 31,065 shares of the company’s stock worth $6,182,000 after purchasing an additional 4,532 shares during the last quarter. Kodai Capital Management LP purchased a new stake in shares of Snowflake during the 4th quarter valued at approximately $78,378,000. Finally, CWA Asset Management Group LLC raised its position in shares of Snowflake by 423.8% during the 4th quarter. CWA Asset Management Group LLC now owns 7,763 shares of the company’s stock valued at $1,545,000 after buying an additional 6,281 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total value of $1,330,468.75. Following the transaction, the insider now owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Emily Ho sold 6,500 shares of Snowflake stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now directly owns 36,076 shares of the company’s stock, valued at approximately $5,712,995.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benoit Dageville sold 8,515 shares of Snowflake stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the transaction, the insider now directly owns 55,216 shares of the company’s stock, valued at $8,627,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,880 shares of company stock valued at $10,832,965. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Down 2.0 %

Shares of SNOW traded down $2.71 during mid-day trading on Wednesday, reaching $134.29. The company had a trading volume of 15,860,758 shares, compared to its average volume of 6,370,142. The stock has a market cap of $44.88 billion, a price-to-earnings ratio of -46.64 and a beta of 0.85. The firm has a fifty day simple moving average of $154.95 and a 200-day simple moving average of $179.61. Snowflake Inc. has a fifty-two week low of $128.41 and a fifty-two week high of $237.72.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada cut their target price on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday. Mizuho cut their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup lowered their target price on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Redburn Atlantic reissued a “sell” rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Finally, Truist Financial dropped their target price on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.92.

Check Out Our Latest Stock Analysis on SNOW

Snowflake Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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