Mn Services Vermogensbeheer B.V. Cuts Stake in Snowflake Inc. (NYSE:SNOW)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,300 shares of the company’s stock after selling 2,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Snowflake were worth $12,324,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC boosted its stake in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in Snowflake in the second quarter worth $27,000. V Square Quantitative Management LLC purchased a new stake in Snowflake in the third quarter worth $30,000. Fortitude Family Office LLC purchased a new stake in Snowflake in the third quarter worth $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Snowflake in the second quarter worth $39,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JMP Securities dropped their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. Evercore ISI dropped their price target on Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Wednesday, October 2nd. Finally, Canaccord Genuity Group dropped their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $174.74.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares in the company, valued at $86,610,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares in the company, valued at $86,610,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,538 shares of company stock worth $5,249,994. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

NYSE SNOW opened at $116.44 on Wednesday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The stock has a 50-day moving average of $114.61 and a 200 day moving average of $130.14. The company has a market capitalization of $39.03 billion, a price-to-earnings ratio of -38.05 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the company earned ($0.52) EPS. Snowflake’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, equities analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

About Snowflake

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.