Snowflake Inc. $SNOW Shares Sold by Amundi

Amundi reduced its stake in Snowflake Inc. (NYSE:SNOW) by 33.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,199,157 shares of the company’s stock after selling 609,093 shares during the quarter. Amundi’s holdings in Snowflake were worth $260,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new position in Snowflake in the 2nd quarter valued at about $25,000. Avion Wealth raised its position in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 49 shares during the last quarter. Rossby Financial LCC lifted its stake in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 127 shares during the period. Whittier Trust Co. boosted its position in Snowflake by 149.1% during the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its stake in Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock worth $34,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 2.3%

NYSE SNOW opened at $229.42 on Friday. The firm has a market capitalization of $77.73 billion, a price-to-earnings ratio of -56.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The company’s 50 day moving average price is $251.34 and its 200 day moving average price is $226.24.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 43.84%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the transaction, the executive vice president owned 532,450 shares in the company, valued at $119,204,906. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 170,564 shares of company stock valued at $41,676,989. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNOW. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Wednesday, November 26th. JMP Securities upped their target price on Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 28th. KeyCorp increased their target price on Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI lifted their price target on Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Raymond James Financial upped their price objective on shares of Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.05.

About Snowflake

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.