XTX Topco Ltd Decreases Holdings in Snowflake Inc. $SNOW

XTX Topco Ltd reduced its stake in Snowflake Inc. (NYSE:SNOW) by 82.9% in the 2nd quarter, Holdings Channel reports. The firm owned 5,595 shares of the company’s stock after selling 27,123 shares during the quarter. XTX Topco Ltd’s holdings in Snowflake were worth $1,252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the period. LPL Financial LLC lifted its position in Snowflake by 18.9% during the 1st quarter. LPL Financial LLC now owns 210,033 shares of the company’s stock worth $30,698,000 after acquiring an additional 33,387 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Snowflake by 33.8% in the 1st quarter. Mackenzie Financial Corp now owns 26,695 shares of the company’s stock worth $3,902,000 after acquiring an additional 6,739 shares during the period. Modera Wealth Management LLC boosted its holdings in Snowflake by 21.5% in the 1st quarter. Modera Wealth Management LLC now owns 2,385 shares of the company’s stock worth $349,000 after acquiring an additional 422 shares during the period. Finally, Natixis Advisors LLC grew its position in Snowflake by 16.1% in the first quarter. Natixis Advisors LLC now owns 13,808 shares of the company’s stock valued at $2,018,000 after acquiring an additional 1,914 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Up 0.9%

NYSE SNOW opened at $250.97 on Friday. The company has a market capitalization of $85.03 billion, a price-to-earnings ratio of -60.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. 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 $248.96 and its two-hundred day moving average price is $224.24.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) 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 analyst estimates of $1.09 billion. During the same quarter in the prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 7,551 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the completion of the sale, the director directly owned 153,226 shares of the company’s stock, valued at $33,899,720.24. The trade was a 4.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $224.85, for a total value of $11,318,499.30. Following the transaction, the director directly owned 35,276 shares in the company, valued at approximately $7,931,808.60. This represents a 58.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 221,305 shares of company stock valued at $52,925,799 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SNOW shares. Oppenheimer reissued an “outperform” rating on shares of Snowflake in a research report on Friday, November 21st. Wedbush lifted their price target on shares of Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Stifel Nicolaus boosted their price objective on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. KeyCorp upped their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Needham & Company LLC lifted their target price on Snowflake from $230.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $268.22.

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.