Benoit Dageville Sells 1,946 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Benoit Dageville also recently made the following trade(s):

• On Friday, June 21st, Benoit Dageville sold 1,295 shares of Snowflake stock. The shares were sold at an average price of $125.19, for a total value of $162,121.05.

Snowflake Price Performance

Shares of Snowflake stock opened at $114.00 on Friday. The business has a 50-day moving average of $121.87 and a 200 day moving average of $140.21. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a market capitalization of $38.21 billion, a price-to-earnings ratio of -40.71 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period last year, the business posted ($0.52) EPS. Equities research analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current year.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently bought and sold shares of the stock. Accent Capital Management LLC acquired a new stake in Snowflake in the 4th quarter valued at about $25,000. LRI Investments LLC acquired a new stake in Snowflake in the 1st quarter valued at about $29,000. FinTrust Capital Advisors LLC raised its position in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Riverview Trust Co acquired a new stake in Snowflake in the 1st quarter valued at about $31,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Snowflake in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several recent research reports. Wedbush reduced their price objective on Snowflake from $210.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Jefferies Financial Group reduced their price objective on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Needham & Company LLC reduced their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. upped their target price on Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.03.

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.