Bessemer Group Inc. Sells 195,176 Shares of Snowflake Inc. (NYSE:SNOW)

Bessemer Group Inc. lowered its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 60.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,562 shares of the company's stock after selling 195,176 shares during the period. Bessemer Group Inc.'s holdings in Snowflake were worth $18,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $988,950,000. FMR LLC raised its stake in shares of Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $750,572,000. Geode Capital Management LLC raised its stake in shares of Snowflake by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after acquiring an additional 15,314 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after acquiring an additional 2,200,406 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Insiders Place Their Bets

In related news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares in the company, valued at $60,090,389.60. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Emily Ho sold 5,027 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the transaction, the chief accounting officer now owns 40,608 shares of the company's stock, valued at approximately $8,083,428.48. This trade represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 622,903 shares of company stock worth $127,235,701. Company insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research analyst reports. Wall Street Zen raised shares of Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Scotiabank reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Morgan Stanley assumed coverage on shares of Snowflake in a research note on Tuesday. They issued an "overweight" rating and a $262.00 price objective for the company. Sanford C. Bernstein reissued a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Citigroup reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $225.22.

Snowflake Trading Up 0.2%

Shares of Snowflake stock opened at $221.89 on Friday. The firm has a 50-day simple moving average of $189.12 and a two-hundred day simple moving average of $173.05. The company has a market cap of $74.08 billion, a P/E ratio of -52.71 and a beta of 1.21. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $225.68. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

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

Snowflake 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.

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