Generali Investments Towarzystwo Funduszy Inwestycyjnych Trims Position in Snowflake Inc. $SNOW

Generali Investments Towarzystwo Funduszy Inwestycyjnych lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 21.4% in the third quarter, Holdings Channel.com reports. The fund owned 16,500 shares of the company’s stock after selling 4,500 shares during the period. Snowflake comprises approximately 2.0% of Generali Investments Towarzystwo Funduszy Inwestycyjnych’s portfolio, making the stock its 15th largest holding. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Snowflake were worth $3,722,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH purchased a new stake in shares of Snowflake in the 2nd quarter worth about $25,000. Avion Wealth raised its stake in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in Snowflake in the third quarter worth about $25,000. Tripletail Wealth Management LLC bought a new stake in Snowflake during the 3rd quarter valued at approximately $28,000. Finally, Rossby Financial LCC grew its holdings in shares of Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $211.24 on Tuesday. The company has a market capitalization of $72.29 billion, a price-to-earnings ratio of -52.29 and a beta of 1.14. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37. 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 is $226.66 and its 200 day moving average is $228.32.

Snowflake (NYSE:SNOW) last issued its earnings results 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. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The business’s revenue was up 28.7% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup dropped their price target on Snowflake from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday, December 8th. DA Davidson reissued a “buy” rating and set a $300.00 price objective on shares of Snowflake in a research report on Monday, December 1st. Bank of America upped their target price on shares of Snowflake from $280.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Monness Crespi & Hardt increased their price target on shares of Snowflake from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Finally, Argus raised shares of Snowflake from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $275.58.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $230.65, for a total transaction of $11,610,459.70. Following the transaction, the director directly owned 32,756 shares of the company’s stock, valued at $7,555,171.40. This represents a 60.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 200,000 shares of Snowflake stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $221.83, for a total value of $44,366,000.00. Following the completion of the sale, the director owned 50,329 shares of the company’s stock, valued at $11,164,482.07. The trade was a 79.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 618,681 shares of company stock valued at $137,427,145. Insiders own 6.80% of the company’s stock.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.