Lombard Odier Asset Management Switzerland SA Takes Position in Snowflake Inc. $SNOW

Lombard Odier Asset Management Switzerland SA bought a new position in Snowflake Inc. (NYSE:SNOW) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,990 shares of the company’s stock, valued at approximately $1,507,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Snowflake during the fourth quarter worth about $28,000. Greenline Wealth Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at approximately $29,000. Physician Wealth Advisors Inc. grew its position in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after purchasing an additional 51 shares during the period. MV Capital Management Inc. bought a new stake in Snowflake during the 4th quarter worth approximately $32,000. Finally, HHM Wealth Advisors LLC increased its stake in Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of SNOW stock opened at $272.89 on Tuesday. The company’s fifty day simple moving average is $241.28 and its 200-day simple moving average is $195.44. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market cap of $94.58 billion, a PE ratio of -77.52 and a beta of 1.35. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm’s revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. Equities research analysts expect that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on SNOW. Jefferies Financial Group lifted their price target on shares of Snowflake from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Loop Capital increased their price objective on shares of Snowflake from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Mizuho raised their price objective on shares of Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Weiss Ratings cut shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Snowflake in a research note on Thursday, May 28th. Thirty-four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $296.27.

Insider Activity

In related news, Director Michael L. Speiser sold 840 shares of Snowflake stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $257.91, for a total value of $216,644.40. Following the sale, the director owned 26,876 shares of the company’s stock, valued at approximately $6,931,589.16. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $258.56, for a total value of $646,400.00. Following the sale, the executive vice president owned 397,879 shares in the company, valued at $102,875,594.24. The trade was a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,802,015 shares of company stock worth $421,739,629. 4.80% of the stock is currently owned by company insiders.

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.