Allspring Global Investments Holdings LLC Sells 774 Shares of Snowflake Inc. (NYSE:SNOW)

Allspring Global Investments Holdings LLC decreased its position in Snowflake Inc. (NYSE:SNOW) by 33.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,555 shares of the company’s stock after selling 774 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Snowflake were worth $309,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Snowflake by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock valued at $2,968,152,000 after acquiring an additional 743,211 shares in the last quarter. FMR LLC lifted its stake in Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Northern Trust Corp lifted its stake in Snowflake by 5.4% in the 3rd quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock valued at $287,556,000 after acquiring an additional 95,814 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Snowflake by 5.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,668,797 shares of the company’s stock valued at $254,942,000 after acquiring an additional 79,825 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Snowflake by 69.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after acquiring an additional 623,277 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In related news, EVP Grzegorz Czajkowski sold 683 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Benoit Dageville sold 689 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The disclosure for this sale can be found here. Insiders sold a total of 168,209 shares of company stock worth $34,291,592 in the last ninety days. 8.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNOW. Evercore ISI dropped their price objective on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Monness Crespi & Hardt upgraded Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. Raymond James upped their price objective on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Bank of America dropped their price objective on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $230.00 target price on shares of Snowflake in a report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Stock Performance

SNOW opened at $158.11 on Friday. The firm has a market cap of $52.84 billion, a P/E ratio of -62.00 and a beta of 0.91. Snowflake Inc. has a 52-week low of $138.40 and a 52-week high of $237.72. The business’s fifty day moving average is $169.91 and its 200-day moving average is $178.94.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data 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. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. On average, research analysts predict that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

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.