Peregrine Capital Management LLC Sells 11,474 Shares of Snowflake Inc. (NYSE:SNOW)

Peregrine Capital Management LLC cut its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 313,413 shares of the company's stock after selling 11,474 shares during the quarter. Snowflake comprises 1.5% of Peregrine Capital Management LLC's portfolio, making the stock its 14th largest position. Peregrine Capital Management LLC owned approximately 0.09% of Snowflake worth $45,808,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SNOW. Brighton Jones LLC grew its stake in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after acquiring an additional 29,320 shares during the period. Amalgamated Bank increased its stake in Snowflake by 2.4% during the 4th quarter. Amalgamated Bank now owns 21,343 shares of the company's stock worth $3,296,000 after purchasing an additional 504 shares in the last quarter. Nwam LLC acquired a new stake in Snowflake during the 4th quarter worth approximately $407,000. Oppenheimer Asset Management Inc. lifted its stake in Snowflake by 10.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 13,671 shares of the company's stock valued at $2,111,000 after buying an additional 1,346 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Snowflake in the fourth quarter valued at approximately $8,321,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Buying and Selling

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of the company'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 completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Friday, April 25th. The shares were sold at an average price of $160.00, for a total value of $1,600,000.00. Following the completion of the transaction, the executive vice president now owns 590,632 shares in the company, valued at approximately $94,501,120. The trade was a 1.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 622,903 shares of company stock worth $127,235,701. Corporate insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $222.45 on Monday. The stock has a market capitalization of $74.27 billion, a PE ratio of -52.84 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 current ratio of 1.58 and a quick ratio of 1.58. The business has a fifty day moving average price of $190.70 and a two-hundred day moving average price of $173.44.

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, topping analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for 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 business's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the company 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.

Analysts Set New Price Targets

Several research firms recently commented on SNOW. Barclays reaffirmed an "overweight" rating and issued a $219.00 price objective (up from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. CICC Research assumed coverage on Snowflake in a report on Friday, June 20th. They issued an "outperform" rating and a $225.00 price target on the stock. Cowen reaffirmed a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Jefferies Financial Group lifted their target price on Snowflake from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Snowflake in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $225.22.

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.

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