Snowflake Inc. (NYSE:SNOW) Shares Sold by ING Groep NV

ING Groep NV decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 43.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,000 shares of the company’s stock after selling 104,897 shares during the period. ING Groep NV’s holdings in Snowflake were worth $15,621,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Covestor Ltd increased its position in Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after purchasing an additional 70 shares during the last quarter. Modus Advisors LLC lifted its holdings in shares of Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares during the last quarter. Catalyst Private Wealth LLC grew its holdings in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares in the last quarter. Iron Gate Global Advisors LLC increased its holdings in Snowflake by 0.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after buying an additional 105 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Snowflake by 30.3% in the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after acquiring an additional 108 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

NYSE SNOW opened at $129.19 on Friday. The firm has a 50-day moving average price of $116.03 and a two-hundred day moving average price of $128.90. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating 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 business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the previous year, the company posted ($0.52) earnings per share. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, research analysts predict that Snowflake Inc. will post -2.41 EPS for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of analyst reports. Wedbush raised Snowflake to a “hold” rating in a report on Thursday, October 17th. Robert W. Baird decreased their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. JMP Securities reduced their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Citigroup decreased their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.09.

Insider Buying and Selling

In other news, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,538 shares of company stock worth $7,061,544. Company insiders own 7.80% of the company’s stock.

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.