Snowflake Inc. $SNOW Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 70.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,222 shares of the company’s stock after selling 48,296 shares during the period. Vontobel Holding Ltd.’s holdings in Snowflake were worth $4,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Snowflake by 23.0% during the first quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the company’s stock worth $164,000 after purchasing an additional 204 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Snowflake during the first quarter worth $264,000. B. Metzler seel. Sohn & Co. AG increased its position in shares of Snowflake by 21.1% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 12,573 shares of the company’s stock valued at $1,838,000 after buying an additional 2,191 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of Snowflake by 12.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 22,068 shares of the company’s stock worth $3,225,000 after buying an additional 2,487 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 1,072 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $223.63, for a total transaction of $239,731.36. Following the completion of the sale, the chief accounting officer directly owned 43,809 shares of the company’s stock, valued at $9,797,006.67. This trade represents a 2.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 200,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $221.83, for a total value of $44,366,000.00. Following the completion of the sale, the director directly owned 50,329 shares of the company’s stock, valued at approximately $11,164,482.07. This trade represents a 79.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 423,681 shares of company stock valued at $98,164,051 in the last ninety days. Company insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on SNOW shares. Stifel Nicolaus increased their price target on shares of Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Robert W. Baird boosted their price target on Snowflake from $260.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Mizuho increased their price objective on Snowflake from $260.00 to $285.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Piper Sandler reiterated an “overweight” rating and set a $285.00 price objective on shares of Snowflake in a research report on Thursday, December 4th. Finally, Wedbush reissued an “outperform” rating and issued a $270.00 target price on shares of Snowflake in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.32.

Snowflake Trading Down 1.5%

NYSE SNOW opened at $221.63 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $75.84 billion, a price-to-earnings ratio of -54.86 and a beta of 1.09. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The company’s fifty day moving average price is $246.24 and its two-hundred day moving average price is $228.05.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. As a group, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.