Snowflake Inc. (NYSE:SNOW) Shares Bought by KBC Group NV

KBC Group NV lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,784 shares of the company’s stock after buying an additional 3,183 shares during the quarter. KBC Group NV’s holdings in Snowflake were worth $4,570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. LRI Investments LLC boosted its holdings in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the 2nd quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in Snowflake during the 3rd quarter worth $30,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake during the third quarter worth $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Snowflake in the second quarter worth about $39,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares of the company’s stock, valued at $86,610,600. The trade was a 3.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The stock was 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. Insiders have sold a total of 59,538 shares of company stock worth $7,061,544 in the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $125.96 on Monday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The stock has a market capitalization of $42.22 billion, a price-to-earnings ratio of -41.16 and a beta of 0.83. The company has a 50-day simple moving average of $116.73 and a 200-day simple moving average of $128.30.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) earnings per share. As a group, research analysts forecast that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Evercore ISI dropped their target price on Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Wednesday, October 2nd. TD Cowen decreased their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Scotiabank cut their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. Finally, Loop Capital decreased their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.09.

Snowflake 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.