Snowflake Inc. (NYSE:SNOW) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 16.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,212 shares of the company's stock after selling 2,471 shares during the quarter. Parallel Advisors LLC's holdings in Snowflake were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Jennison Associates LLC increased its stake in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. Norges Bank acquired a new stake in Snowflake during the 4th quarter valued at $988,950,000. FMR LLC increased its position in Snowflake by 84.9% during 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 in the last quarter. GQG Partners LLC acquired a new position in shares of Snowflake in the fourth quarter worth $750,572,000. Finally, Geode Capital Management LLC lifted its position in shares of Snowflake by 0.4% in 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. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Activity at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Emily Ho sold 5,027 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $199.06, for a total value 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 represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 834,779 shares of company stock worth $156,261,943 in the last ninety days. 6.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on SNOW shares. Oppenheimer reissued an "outperform" rating and issued a $225.00 target price (up previously from $210.00) on shares of Snowflake in a research note on Thursday, May 22nd. Loop Capital set a $220.00 price target on Snowflake and gave the stock a "buy" rating in a research note on Thursday, May 22nd. UBS Group upped their target price on Snowflake from $200.00 to $210.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Evercore ISI reaffirmed an "outperform" rating and set a $232.00 price objective (up previously from $200.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Royal Bank of Canada set a $236.00 target price on shares of Snowflake and gave the company an "outperform" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $217.33.

Snowflake Stock Performance

SNOW stock traded down $0.87 during midday trading on Tuesday, reaching $209.30. The company had a trading volume of 4,060,113 shares, compared to its average volume of 6,417,648. The firm has a market capitalization of $69.88 billion, a PE ratio of -61.74 and a beta of 1.21. The stock has a 50 day moving average price of $164.64 and a 200 day moving average price of $167.45. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $210.94. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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 revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. Analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Snowflake Company 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.