• Disclaimer
  • Privacy Policy
Media Coverage
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
Media Coverage
No Result
View All Result
Home Stock Markets

Recent Insider Sale and Investor Activity at Snowflake Inc. Sparks Interest

Gabriel Bello Obando by Gabriel Bello Obando
October 24, 2023
in Stock Markets
0
Stock market market
0
SHARES
20
VIEWS
Share on FacebookShare on Twitter

On October 10th, Benoit Dageville, an insider at Snowflake Inc. (NYSE:SNOW), sold 13,182 shares of the company’s stock at an average price of $163.00 per share, resulting in a total value of $2,148,666.00. Following this transaction, Dageville now owns 40,847 shares in Snowflake, valued at approximately $6,658,061. This sale was disclosed through a legal filing with the Securities & Exchange Commission (SEC), which can be accessed on the SEC website.

Snowflake last shared its quarterly earnings data on August 23rd. The company reported earnings per share of $0.22 for the quarter, surpassing the consensus estimate of $0.10 by $0.12. Additionally, Snowflake generated revenue of $674 million during the quarter, compared to the estimated revenue of $662.22 million. It is worth noting that Snowflake had a negative return on equity and a negative net margin of 35.22%. However, their quarterly revenue increased by 35.6% year-over-year. In the same period last year, Snowflake recorded ($0.67) EPS.

Investors have been actively adjusting their positions in Snowflake recently. Bank Julius Baer & Co Ltd Zurich significantly increased its holdings by 48,395.6% in the second quarter and now owns 4,467,899 shares valued at approximately $786,261,000. Norges Bank also acquired a new stake in Snowflake during the fourth quarter worth $477,435,000. Similarly, GQG Partners LLC purchased a position worth $311,427,
000 during the first quarter.

Jennison Associates LLC raised their holdings by 19.5% in the second quarter and currently possess 7
399711
shares of Snowflakes’ stock totaling
$1,302,201,000. Moreover, Fred Alger Management LLC invested $119,432,000 in Snowflake during the fourth quarter.

It is important to note that institutional investors and hedge funds account for ownership of 63.74% of Snowflake’s stock.

Given these recent developments and investor activity, it will be interesting to observe how Snowflake Inc. performs in the current fiscal year. Analysts are predicting that Snowflake will post -1.62 earnings per share for this period.
[bs_slider_forecast ticker=”LEN”]

Recent Trade and Analyst Updates for Snowflake Inc. Stock (SNOW)



As of October 12, 2023, Benoit Dageville has recently made a trade related to Snowflake stock. The stock experienced a modest increase of $0.41 during Wednesday’s trading session, reaching a value of $163.54. The trading volume for Snowflake Inc. amounted to 2,258,455 shares, which is lower than its average volume of 5,564,940 shares. It is worth noting that Snowflake Inc. had reached a 12-month low of $119.27 and a 12-month high of $193.94.

Snowflake Inc., with a market capitalization of $53.92 billion, currently carries a price-to-earnings (P/E) ratio of -61.73 and a beta value of 0.76 as observed in recent times. Furthermore, the company’s performance over the past 50 days has shown an average moving price of $155.99 while the moving average for the past 200 days stands at $161.56.

Various research analysts have recently provided their insights regarding Snowflake Inc.’s stock performance (SNOW). Wells Fargo & Company raised the price target for the stock from $195.00 to $200.00 and assigned it an “overweight” rating in one of their research reports on August 24th this year.

On the other hand, Barclays lowered their target price from $190 to $183 for Snowflake Inc.’s shares and maintained an “overweight” rating for the company in another research report dated August 24th.

A different perspective comes from HSBC analysts who initiated coverage on Snowflake Inc., giving it a “buy” rating alongside a price objective set at $201 per share on September 15th.

Another analyst report by BNP Paribas suggests upgrading Snowflake Inc.’s rating from “underperform” to “neutral,” indicating that they currently hold a target price of $173 for the company’s stock. This report was published on July 19th.

Lastly, JPMorgan Chase & Co. also provided their assessment, raising the price target from $155.00 to $180.00 as of June 28th.

It is worth mentioning that the overall consensus rating for Snowflake Inc.’s stock, according to Bloomberg, is labeled as “Moderate Buy.” The consensus price target for the company stands at $189.30 based on various analysts’ reports.

For more information on Snowflake Inc.’s recent stock performance and updates, interested parties are advised to refer to our latest stock report regarding SNOW.

Tags: LEN
Previous Post

Ratings Upgrade and Positive Financial Results Boost Dynatrace’s Stock

Next Post

Barclays Revises Price Target for Vodafone Group Public, Sparking Interest in Telecommunications Industry

Next Post
Stock market news

Barclays Revises Price Target for Vodafone Group Public, Sparking Interest in Telecommunications Industry

Wealth

Sugarhill Ddot’s Net Worth: Inside The Career of the Rising Drill Rap Star

by Gabriel Bello Obando
November 10, 2023
0

When it comes to the hip-hop scene in America, there are a few names that stand out. However, one name...

Read more

From Telenovelas to Hollywood: Exploring Kate del Castillo Net Worth and Career Achievements

June 1, 2023

Adamari López Net Worth: An Inspirational Tale of Resilience Beyond The Screen

June 1, 2023

Simon Helberg Net Worth: A Multi-Talented Hollywood Star

June 1, 2023

Sam Bailey Net Worth: Her Journey to Fame and Musical Career

June 1, 2023

Categories

  • Analyst Ratings
  • Business
  • Business news
  • Market coverage
  • Pre-IPO & Startups
  • Stock Markets
  • Wealth
  • World Economy

About Us

Our team of experienced journalists and industry experts is committed to providing you with the latest and most accurate information on a wide range of topics, from finance and technology to politics and the economy.

We are proud to be part of the Best Stocks team and to offer our readers exceptional content that is informed by our combined expertise. We look forward to continuing to serve our readers and to playing a key role in the world of business analysis and reporting.

READ MORE

  • Media Contacts
  • Journalist Contacts
  • Contact
  • About us
  • Disclaimer
  • Privacy Policy

© 2023 Media Coverage

No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact

© 2023 Media Coverage