New England Research & Management Inc. Sells 150 Shares of Snowflake Inc. (NYSE:SNOW)

New England Research & Management Inc. lowered its stake in Snowflake Inc. (NYSE:SNOW) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,875 shares of the company’s stock after selling 150 shares during the quarter. New England Research & Management Inc.’s holdings in Snowflake were worth $523,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Snowflake in the fourth quarter worth approximately $838,455,000. Swedbank AB purchased a new position in shares of Snowflake during the 1st quarter worth $258,957,000. Vanguard Group Inc. grew its position in shares of Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after acquiring an additional 1,559,830 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Snowflake in the 1st quarter worth $171,608,000. Finally, Trivest Advisors Ltd purchased a new stake in shares of Snowflake in the 4th quarter worth $173,747,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 2.0 %

Shares of SNOW traded up $2.21 during trading hours on Tuesday, hitting $114.84. The company had a trading volume of 5,333,511 shares, compared to its average volume of 6,458,003. The company’s fifty day moving average price is $131.99 and its two-hundred day moving average price is $161.30. Snowflake Inc. has a one year low of $107.93 and a one year high of $237.72. The company has a market capitalization of $38.45 billion, a PE ratio of -41.01 and a beta of 0.85.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The firm had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Analysts forecast that Snowflake Inc. will post -2.28 earnings per share for the current year.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent research reports. The Goldman Sachs Group reissued a “buy” rating and set a $220.00 price target on shares of Snowflake in a report on Monday, July 1st. Scotiabank reduced their target price on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a report on Thursday, May 23rd. UBS Group lifted their price target on shares of Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, May 23rd. Wedbush reiterated a “neutral” rating and issued a $210.00 price target on shares of Snowflake in a research report on Wednesday, June 5th. Finally, Sanford C. Bernstein raised their price objective on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $197.31.

Insider Activity at Snowflake

In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the sale, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at $60,922,410.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the sale, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. Insiders have sold 520,678 shares of company stock valued at $64,962,300 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

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.