Banque Cantonale Vaudoise Sells 1,773 Shares of Snowflake Inc. (NYSE:SNOW)

Banque Cantonale Vaudoise trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 28.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,509 shares of the company’s stock after selling 1,773 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Snowflake were worth $518,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd raised its stake in Snowflake by 25.0% in the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares in the last quarter. Modus Advisors LLC boosted its position in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after buying an additional 94 shares in the last quarter. Catalyst Private Wealth LLC grew its position in Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after acquiring an additional 104 shares during the last quarter. Iron Gate Global Advisors LLC increased its stake in shares of Snowflake by 0.9% in the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after buying an additional 105 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after acquiring an additional 108 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

Shares of NYSE SNOW opened at $171.05 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The firm’s 50 day simple moving average is $118.98 and its two-hundred day simple moving average is $128.19. The stock has a market capitalization of $57.34 billion, a P/E ratio of -55.90 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.52) earnings per share. As a group, equities analysts expect that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNOW shares. Jefferies Financial Group lifted their price objective on Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer reissued an “outperform” rating and issued a $180.00 price target on shares of Snowflake in a research report on Thursday. JMP Securities decreased their price objective on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a report on Thursday, August 22nd. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and raised their target price for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $210.00 price target on shares of Snowflake in a report on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $180.23.

About Snowflake

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.