Bailard Inc. sell 11,380 shares of Snowflake Inc. (NYSE: SNOW)

VaselineAugust 29, 2024

0 4 minutes read

Bailard Inc. reduced its stake in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 82.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,481 shares of the company’s stock after selling 11,380 shares during the period. The holdings of Bailard Inc. in Snowflake were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors have recently modified their holdings of SNOW. Accent Capital Management LLC bought a new position in Snowflake in the fourth quarter valued at about $25,000. LRI Investments LLC boosted its stake in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Snowflake in the 1st quarter valued at $31,000. Hartford Financial Management Inc. purchased a new position in Snowflake in the first quarter valued at approximately $32,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Snowflake in the first quarter valued at about $32,000. 65.10% of shares are currently owned by institutional investors.

Snowflake stock up 1.9%

Shares of SNOW stock opened at $118.04 on Tuesday. Snowflake Inc. it has a 52-week low of $107.93 and a 52-week high of $237.72. The stock has a market cap of $39.52 billion, a P/E ratio of -42.16 and a beta of 0.85. The company’s 50-day moving average price is $129.74 and its 200-day moving average price is $153.75.

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Snowflake (NYSE:SNOW – Get Your Free Report ) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company’s quarterly revenue was up 28.9% year over year. In the same period last year, the company posted ($0.52) earnings per share. On average, equities analysts anticipate that Snowflake Inc. will post -2.31 EPS for the current year.

Insider buying and selling

In related news, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the sale, the insider now directly owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In other Snowflake news, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now directly owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CAO Emily Ho sold 3,845 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the sale, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 527,678 shares of company stock worth $65,491,235. Insiders own 7.80% of the company’s shares.

Changes in Analyst Ratings

Several research firms recently weighed in on SNOW. Royal Bank of Canada reduced their price objective on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Jefferies Financial Group cut their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Robert W. Baird decreased their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Sanford C. Bernstein boosted their target price on Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Finally, StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.03, according to MarketBeat.com.

Read the latest stock analysis on SNOW

About the snowflake

(Free Report)

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 generate meaningful business insights, build data-driven applications and share data and data products, and apply artificial intelligence (AI) for solving business problems. .