APG Asset Management N.V. Sells 4,415 Shares of Snowflake Inc. $SNOW

APG Asset Management N.V. cut its position in shares of Snowflake Inc. (NYSE:SNOW) by 2.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 191,122 shares of the company’s stock after selling 4,415 shares during the period. APG Asset Management N.V.’s holdings in Snowflake were worth $25,860,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Brighton Jones LLC lifted its stake in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares during the last quarter. MGO One Seven LLC lifted its stake in shares of Snowflake by 34.0% in the 4th quarter. MGO One Seven LLC now owns 2,552 shares of the company’s stock valued at $394,000 after purchasing an additional 648 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Snowflake by 32.2% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 32,815 shares of the company’s stock valued at $5,094,000 after purchasing an additional 8,002 shares during the last quarter. Arkos Global Advisors bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $209,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $27,049,000. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on Snowflake from $236.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Robert W. Baird raised their price objective on Snowflake from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Truist Financial raised their price objective on Snowflake from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. DA Davidson reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Snowflake in a research note on Wednesday, June 4th. Finally, Hsbc Global Res lowered Snowflake from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.22.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 424,852 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the transaction, the director directly owned 165,507 shares in the company, valued at $36,303,960.45. This trade represents a 71.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Scarpelli sold 400,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the transaction, the chief financial officer owned 292,610 shares in the company, valued at $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,916,826 shares of company stock worth $637,835,052 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

Shares of SNOW stock opened at $196.7910 on Friday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $229.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market capitalization of $65.70 billion, a P/E ratio of -46.74 and a beta of 1.22. The stock has a 50 day moving average price of $211.11 and a 200 day moving average price of $184.91.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%.Snowflake’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. As a group, sell-side analysts predict 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.