Cigna Investments Inc. New Sells 90 Shares of Snowflake Inc. (NYSE:SNOW)

Cigna Investments Inc. New lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 2.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,225 shares of the company’s stock after selling 90 shares during the period. Cigna Investments Inc. New’s holdings in Snowflake were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. LRI Investments LLC acquired a new position in Snowflake in the first quarter worth about $29,000. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake in the 2nd quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the 3rd quarter worth approximately $30,000. Global Financial Private Client LLC acquired a new stake in Snowflake in the 1st quarter valued at $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake during the second quarter worth $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 0.6 %

Shares of SNOW stock opened at $115.46 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The firm has a fifty day moving average of $114.70 and a 200-day moving average of $130.65. The firm has a market capitalization of $38.70 billion, a price-to-earnings ratio of -37.73 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period in the prior year, the company earned ($0.52) earnings per share. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. Research analysts expect that Snowflake Inc. will post -2.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup reduced their target price on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Jefferies Financial Group dropped their price objective on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Needham & Company LLC reduced their target price on Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. TD Cowen dropped their price target on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, Stifel Nicolaus reduced their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.74.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the transaction, the executive vice president now owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Benoit Dageville sold 287 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the sale, the executive vice president now owns 721,755 shares in the company, valued at $86,610,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 59,538 shares of company stock valued at $7,049,994. 7.80% of the stock is owned by corporate insiders.

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.