Snowflake Inc. $SNOW Shares Sold by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. cut its stake in Snowflake Inc. (NYSE:SNOW) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,359 shares of the company’s stock after selling 2,243 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Snowflake were worth $3,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Snowflake by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after acquiring an additional 1,448,094 shares during the period. Jennison Associates LLC raised its position in Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after purchasing an additional 2,519,413 shares in the last quarter. Nuveen LLC lifted its stake in Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after acquiring an additional 116,521 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Snowflake by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after purchasing an additional 249,668 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Snowflake during the 4th quarter worth about $974,091,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, SVP Vivek Raghunathan sold 3,876 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $240.00, for a total transaction of $930,240.00. Following the transaction, the senior vice president owned 258,689 shares of the company’s stock, valued at $62,085,360. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Emily Ho sold 1,860 shares of Snowflake stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $232.25, for a total transaction of $431,985.00. Following the completion of the transaction, the chief accounting officer owned 41,283 shares in the company, valued at approximately $9,587,976.75. This trade represents a 4.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,798,828 shares of company stock valued at $415,351,838. 4.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

NYSE SNOW opened at $259.67 on Friday. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $284.99. The company has a market capitalization of $90.00 billion, a P/E ratio of -73.77 and a beta of 1.35. The business has a 50 day moving average price of $202.78 and a 200 day moving average price of $190.46. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Sell-side analysts expect that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SNOW shares. Barclays increased their target price on shares of Snowflake from $272.00 to $285.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Stifel Nicolaus upped their target price on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. TD Cowen restated a “buy” rating and set a $300.00 price target on shares of Snowflake in a research note on Wednesday, June 3rd. Cantor Fitzgerald lifted their price target on Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, KeyCorp set a $295.00 price objective on Snowflake in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.53.

Snowflake Company 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.