Snowflake Inc. (NYSE:SNOW) Shares Sold by Tairen Capital Ltd

Tairen Capital Ltd lessened its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 57.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,490 shares of the company's stock after selling 192,610 shares during the quarter. Snowflake makes up about 3.2% of Tairen Capital Ltd's holdings, making the stock its 8th largest position. Tairen Capital Ltd's holdings in Snowflake were worth $21,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC lifted its position in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Norges Bank purchased a new position in Snowflake in the 4th quarter valued at about $988,950,000. FMR LLC boosted its stake in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $750,572,000. Finally, Geode Capital Management LLC raised 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 buying an additional 15,314 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the sale, the director now directly owns 25,972 shares in the company, valued at $4,363,555.72. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the transaction, the executive vice president now owns 594,975 shares of the company's stock, valued at $102,186,956.25. This trade represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock valued at $58,204,058 in the last ninety days. Company insiders own 7.80% of the company's stock.

Snowflake Stock Performance

NYSE:SNOW traded down $2.09 during midday trading on Friday, reaching $201.09. 9,019,007 shares of the company traded hands, compared to its average volume of 6,513,685. The firm has a market capitalization of $66.38 billion, a price-to-earnings ratio of -59.27 and a beta of 1.11. The company has a fifty day moving average price of $158.29 and a 200 day moving average price of $162.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $205.16.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The company's quarterly revenue was up 25.8% on a year-over-year basis. On average, analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday. Cantor Fitzgerald lifted their price objective on Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a research report on Thursday. Rosenblatt Securities reiterated a "buy" rating and set a $205.00 target price on shares of Snowflake in a research report on Monday. Robert W. Baird raised their price target on Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, BTIG Research reaffirmed a "buy" rating on shares of Snowflake in a research note on Thursday. Two research 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $216.46.

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.