Snowflake Inc. $SNOW Shares Sold by XTX Topco Ltd

XTX Topco Ltd decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 82.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. raised its stake in shares of Snowflake by 24.4% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 10,496 shares of the company’s stock worth $2,349,000 after buying an additional 2,060 shares during the last quarter. Atalanta Sosnoff Capital LLC raised its position in Snowflake by 3.6% during the second quarter. Atalanta Sosnoff Capital LLC now owns 236,095 shares of the company’s stock worth $52,831,000 after acquiring an additional 8,306 shares during the last quarter. Insigneo Advisory Services LLC lifted its holdings in shares of Snowflake by 1.3% in the second quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company’s stock valued at $896,000 after purchasing an additional 52 shares in the last quarter. CreativeOne Wealth LLC grew its position in shares of Snowflake by 149.6% in the second quarter. CreativeOne Wealth LLC now owns 4,511 shares of the company’s stock valued at $1,009,000 after purchasing an additional 2,704 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of Snowflake during the 2nd quarter worth approximately $2,327,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on SNOW. Scotiabank increased their target price on Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. DA Davidson reaffirmed a “buy” rating and set a $250.00 price objective on shares of Snowflake in a research note on Monday, August 25th. Wedbush raised 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. Needham & Company LLC lifted their price target on shares of Snowflake from $230.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, 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 note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.22.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 7,551 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the sale, the director directly owned 153,226 shares in the company, valued at $33,899,720.24. This represents a 4.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares in the company, valued at approximately $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 221,305 shares of company stock valued at $52,925,799. Corporate insiders own 6.80% of the company’s stock.

Snowflake Price Performance

SNOW opened at $250.97 on Friday. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The company’s 50 day simple moving average is $248.96 and its 200 day simple moving average is $224.24. The stock has a market capitalization of $85.03 billion, a PE ratio of -60.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.18 earnings per share. Snowflake’s revenue was up 31.8% on a year-over-year basis. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

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.