Generali Investments Management Co LLC Sells 7,695 Shares of Snowflake Inc. (NYSE:SNOW)

Generali Investments Management Co LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 73.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,824 shares of the company's stock after selling 7,695 shares during the period. Generali Investments Management Co LLC's holdings in Snowflake were worth $413,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the 4th quarter valued at $29,000. West Paces Advisors Inc. acquired a new stake in Snowflake in the fourth quarter worth $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake in the fourth quarter valued at $31,000. Capital A Wealth Management LLC bought a new stake in Snowflake in the fourth quarter valued at $31,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in shares of Snowflake during the fourth quarter valued at about $32,000. 65.10% of the stock is owned by institutional investors.

Insider Activity at Snowflake

In related news, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $60,090,389.60. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the sale, the executive vice president now directly owns 622,611 shares in the company, valued at $91,673,243.64. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 849,779 shares of company stock worth $159,318,643. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SNOW shares. Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Raymond James reissued an "outperform" rating and issued a $212.00 price objective (up previously from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Daiwa America raised Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. BTIG Research reiterated a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Barclays reissued an "overweight" rating and issued a $219.00 price target (up previously from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $221.28.

Snowflake Stock Up 0.2%

Shares of NYSE SNOW opened at $209.99 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $214.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business's fifty day moving average price is $168.14 and its 200-day moving average price is $168.59. The stock has a market capitalization of $70.11 billion, a PE ratio of -61.94 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. On average, equities research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current 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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