Snowflake Inc. (NYSE:SNOW) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. cut its stake in Snowflake Inc. (NYSE:SNOW) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,745 shares of the company’s stock after selling 154 shares during the period. Twin Capital Management Inc.’s holdings in Snowflake were worth $1,740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of SNOW. Cigna Investments Inc. New raised its position in Snowflake by 1.6% during the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after buying an additional 51 shares during the last quarter. E&G Advisors LP raised its position in Snowflake by 3.0% during the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after buying an additional 51 shares during the last quarter. Valley National Advisers Inc. raised its position in Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after buying an additional 53 shares during the last quarter. AdvisorNet Financial Inc raised its position in Snowflake by 5.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock worth $220,000 after buying an additional 61 shares during the last quarter. Finally, Kingfisher Capital LLC raised its position in Snowflake by 0.4% during the 3rd quarter. Kingfisher Capital LLC now owns 14,745 shares of the company’s stock worth $2,253,000 after buying an additional 63 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SNOW shares. Oppenheimer cut their target price on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Bank of America cut their target price on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. KeyCorp started coverage on shares of Snowflake in a report on Thursday, April 11th. They set an “overweight” rating and a $185.00 target price for the company. Royal Bank of Canada cut their target price on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, Rosenblatt Securities raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $202.00.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 8,515 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the sale, the insider now owns 55,216 shares of the company’s stock, valued at $8,627,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Benoit Dageville sold 8,515 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the sale, the insider now owns 55,216 shares of the company’s stock, valued at $8,627,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 1,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Insiders sold a total of 180,555 shares of company stock valued at $36,868,487 over the last 90 days. 8.30% of the stock is owned by company insiders.

Snowflake Price Performance

Shares of SNOW stock opened at $148.45 on Friday. The firm has a market cap of $49.61 billion, a PE ratio of -58.22 and a beta of 0.91. The company has a 50-day moving average of $179.56 and a two-hundred day moving average of $179.04. Snowflake Inc. has a 1-year low of $135.26 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Sell-side analysts anticipate that Snowflake Inc. will post -1.9 EPS 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.