Ayalon Insurance Comp Ltd. Has $1.43 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Ayalon Insurance Comp Ltd. decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 50.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,772 shares of the company's stock after selling 9,780 shares during the period. Ayalon Insurance Comp Ltd.'s holdings in Snowflake were worth $1,428,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SNOW. Norges Bank acquired a new stake in shares of Snowflake in the fourth quarter worth about $988,950,000. GQG Partners LLC acquired a new stake in shares of Snowflake in the fourth quarter worth about $750,572,000. FMR LLC lifted its position in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after buying an additional 2,805,425 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Snowflake by 124.4% in 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 during the last quarter. Finally, Groupama Asset Managment lifted its position in shares of Snowflake by 930,132.6% in the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock worth $308,820,000 after buying an additional 1,999,785 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Activity

In related news, CAO Emily Ho sold 2,599 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $210.07, for a total transaction of $545,971.93. Following the sale, the chief accounting officer now owns 37,763 shares of the company's stock, valued at approximately $7,932,873.41. This trade represents a 6.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Scarpelli sold 400,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $60,090,389.60. The trade was a 57.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 892,277 shares of company stock valued at $169,052,217 in the last 90 days. 6.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SNOW shares. Canaccord Genuity Group boosted their price target on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Cowen reaffirmed a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Truist Financial lifted their price objective on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. 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 note on Monday, June 9th. Finally, Evercore ISI reiterated a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $223.50.

Snowflake Stock Performance

SNOW stock opened at $209.30 on Wednesday. The business's fifty day moving average is $179.22 and its 200-day moving average is $171.24. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market cap of $69.88 billion, a P/E ratio of -49.71 and a beta of 1.21. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $214.83.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm's quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. Equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current 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.

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