Snowflake Inc. (NYSE:SNOW) Stake Reduced by Cigna Investments Inc. New

Cigna Investments Inc. New lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,225 shares of the company’s stock after selling 90 shares during the period. Cigna Investments Inc. New’s holdings in Snowflake were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ayalon Insurance Comp Ltd. lifted its holdings in Snowflake by 30.1% in the third quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company’s stock worth $2,246,000 after purchasing an additional 4,522 shares during the period. Diversify Advisory Services LLC boosted its stake in Snowflake by 164.9% during the 3rd quarter. Diversify Advisory Services LLC now owns 93,362 shares of the company’s stock valued at $10,783,000 after purchasing an additional 58,114 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Snowflake in the 3rd quarter worth $34,000. Strategic Wealth Investment Group LLC lifted its holdings in shares of Snowflake by 3.1% in the third quarter. Strategic Wealth Investment Group LLC now owns 5,904 shares of the company’s stock valued at $651,000 after buying an additional 175 shares during the period. Finally, J.W. Cole Advisors Inc. bought a new position in Snowflake during the third quarter valued at about $231,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,049,994 in the last quarter. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $115.46 on Friday. The stock’s 50 day simple moving average is $114.70 and its 200 day simple moving average is $130.65. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a market capitalization of $38.70 billion, a price-to-earnings ratio of -37.73 and a beta of 0.83.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. TD Cowen reduced their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Jefferies Financial Group dropped their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Robert W. Baird reduced their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Snowflake 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.