Snowflake Inc. $SNOW Position Increased by KBC Group NV

KBC Group NV grew its position in Snowflake Inc. (NYSE:SNOW) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 61,261 shares of the company’s stock after purchasing an additional 1,883 shares during the period. KBC Group NV’s holdings in Snowflake were worth $13,709,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SNOW. Brighton Jones LLC boosted its stake in Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Snowflake by 38.5% in the first quarter. Ballentine Partners LLC now owns 1,866 shares of the company’s stock valued at $273,000 after purchasing an additional 519 shares in the last quarter. Signaturefd LLC boosted its position in shares of Snowflake by 20.8% in the first quarter. Signaturefd LLC now owns 2,918 shares of the company’s stock worth $426,000 after buying an additional 502 shares during the period. Sigma Planning Corp grew its holdings in shares of Snowflake by 32.9% during the first quarter. Sigma Planning Corp now owns 2,647 shares of the company’s stock valued at $387,000 after buying an additional 655 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in shares of Snowflake by 12.9% during the first quarter. Apollon Wealth Management LLC now owns 10,666 shares of the company’s stock valued at $1,559,000 after buying an additional 1,219 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $257.15 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $87.12 billion, a PE ratio of -61.96 and a beta of 1.23. The firm’s 50 day moving average price is $243.42 and its 200 day moving average price is $217.75. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $0.18 EPS. Snowflake’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the sale, the director directly owned 165,507 shares in the company, valued at approximately $38,144,398.29. The trade was a 81.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president directly owned 241,854 shares in the company, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 931,388 shares of company stock valued at $216,578,628 in the last three months. 6.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNOW. Wedbush increased their price objective on Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. UBS Group upped their target price on Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Snowflake in a report on Friday, October 17th. Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Truist Financial increased their target price on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $259.89.

Snowflake Company 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.