Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 40,468.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 598,381 shares of the company’s stock after acquiring an additional 596,906 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Snowflake were worth $131,564,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fourier Capital Management Ltd bought a new stake in shares of Snowflake during the 4th quarter worth approximately $1,768,000. Western Wealth Management LLC bought a new stake in shares of Snowflake during the 4th quarter worth approximately $567,000. Strategic Family Wealth Counselors L.L.C. bought a new stake in shares of Snowflake during the 4th quarter worth approximately $241,000. Stonebridge Financial Group LLC MO bought a new stake in shares of Snowflake during the 4th quarter worth approximately $365,000. Finally, Summit Wealth Group LLC Co. bought a new stake in shares of Snowflake during the 4th quarter worth approximately $251,000. 65.10% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, SVP Vivek Raghunathan sold 3,876 shares of Snowflake stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $152.80, for a total value of $592,252.80. Following the transaction, the senior vice president directly owned 273,323 shares in the company, valued at approximately $41,763,754.40. This trade represents a 1.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $176.91, for a total value of $17,691,000.00. Following the completion of the transaction, the director owned 50,329 shares in the company, valued at $8,903,703.39. This represents a 66.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 384,313 shares of company stock valued at $64,308,373. 6.80% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Get Our Latest Stock Report on Snowflake
Snowflake Trading Up 0.3%
SNOW opened at $152.39 on Thursday. The stock’s fifty day moving average is $155.53 and its two-hundred day moving average is $197.77. The company has a market capitalization of $52.68 billion, a P/E ratio of -38.58 and a beta of 1.08. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $280.67. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18.
Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted $0.30 EPS. The business’s revenue was up 30.1% compared to the same quarter last year. Analysts forecast that Snowflake Inc. will post -2.16 earnings per share for the current year.
About Snowflake
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.
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