Snowflake Inc. (SNOW:NYE) has seen several institutional investors make changes to their positions in the company in the last few months. CENTRAL TRUST Co decreased its stake in SNOW by 79.3% in the fourth quarter, according to a recent filing with the Securities and Exchange Commission. The institutional investor owned 1,323 shares of Snowflake stock after selling 5,059 shares during the quarter.
Other institutional investors, such as Accurate Wealth Management LLC and Ronald Blue Trust Inc., have also purchased shares in the company recently.
Snowflake Stock Price Analysis:
SNOW stock opened at $145.68 on Monday, with a 50-day simple moving average of $149.24 and a 200-day simple moving average of $150.63. The company reported ($0.60) earnings per share for the quarter ending March 1st, falling short of analysts’ estimates. Despite this, equities research analysts still anticipate that Snowflake Inc. will post -1.63 earnings per share for the current year.
According to Stock Target Advisor, the company has a consensus rating of “Strong Buy” and a consensus price target of $187.16.
Snowflake Stock-Analyst Ratings:
Recently, Citigroup reduced their price objective on Snowflake from $225.00 to $202.00, while Needham & Company LLC increased their target price on shares of Snowflake stock from $165.00 to $180.00 and gave the company a “buy” rating.
Mizuho lowered their price target on shares of Snowflake from $195.00 to $185.00 and set a “buy” rating on the stock.
Insider Transactions:
On the insider front, Director John Dennis Mcmahon sold 10,000 shares of Snowflake stock at an average price of $152.79, for a total value of $1,527,900.00. Similarly, insider Benoit Dageville sold 57,564 shares of the stock in a transaction dated March 8th. Snowflake stock was sold at an average price of $140.13, for a total value of $8,066,443.32.
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.
The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowflake Inc. in April 2019. Snowflake Inc. was incorporated in 2012 and is based in Bozeman, Montana.
