JTC Employer Solutions Trustee Ltd Sells 32,230 Shares of Snowflake Inc. (NYSE:SNOW)

JTC Employer Solutions Trustee Ltd reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 98.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 600 shares of the company's stock after selling 32,230 shares during the quarter. JTC Employer Solutions Trustee Ltd's holdings in Snowflake were worth $88,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Snowflake in the fourth quarter valued at $988,950,000. GQG Partners LLC bought a new position in shares of Snowflake in the 4th quarter worth about $750,572,000. Jennison Associates LLC lifted its position in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. FMR LLC lifted its position in shares of Snowflake by 84.9% in the 4th 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. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Snowflake by 124.4% in the 4th 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. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Hsbc Global Res cut shares of Snowflake from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Citigroup reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Jefferies Financial Group raised their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. KeyCorp reduced their target price on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price target for the company in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average price target of $217.33.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 5,027 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $199.06, for a total value of $1,000,674.62. Following the sale, the chief accounting officer now owns 40,608 shares of the company's stock, valued at approximately $8,083,428.48. This represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 834,779 shares of company stock worth $156,261,943 over the last ninety days. 6.80% of the stock is owned by insiders.

Snowflake Trading Down 0.4%

Shares of SNOW traded down $0.87 during mid-day trading on Tuesday, reaching $209.30. 4,060,113 shares of the company were exchanged, compared to its average volume of 6,413,126. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $210.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $69.88 billion, a PE ratio of -61.74 and a beta of 1.21. The business has a 50 day simple moving average of $164.64 and a two-hundred day simple moving average of $167.45.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.14 earnings per share. The firm's revenue was up 25.8% compared to the same quarter last year. On average, 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.