4,655 Shares in Snowflake Inc. $SNOW Bought by Kepler Cheuvreux Suisse SA

Kepler Cheuvreux Suisse SA bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,655 shares of the company’s stock, valued at approximately $702,000.

Several other large investors also recently modified their holdings of SNOW. Norges Bank bought a new position in shares of Snowflake during the 4th quarter valued at about $974,091,000. Jennison Associates LLC increased its stake in Snowflake by 27.7% during the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after purchasing an additional 2,519,413 shares in the last quarter. Coatue Management LLC bought a new position in Snowflake in the third quarter valued at approximately $441,277,000. Jericho Capital Asset Management L.P. bought a new position in Snowflake in the fourth quarter valued at approximately $345,619,000. Finally, Vanguard Group Inc. lifted its stake in Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after buying an additional 1,448,094 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SNOW. Truist Financial increased their price objective on shares of Snowflake from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Citigroup upped their target price on shares of Snowflake from $260.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Mizuho lifted their price target on Snowflake from $220.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. TD Cowen restated a “buy” rating and issued a $300.00 price target on shares of Snowflake in a report on Wednesday, June 3rd. Finally, Rosenblatt Securities upped their price objective on Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $293.53.

Insiders Place Their Bets

In related news, CRO Jonathan Mead Beaulier sold 9,367 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $231.98, for a total transaction of $2,172,956.66. Following the sale, the executive owned 234,791 shares in the company, valued at approximately $54,466,816.18. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Emily Ho sold 1,860 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $232.25, for a total value of $431,985.00. Following the transaction, the chief accounting officer directly owned 41,283 shares of the company’s stock, valued at $9,587,976.75. This trade represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,748,087 shares of company stock valued at $407,831,514 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

Shares of SNOW opened at $259.67 on Monday. The stock has a market capitalization of $90.00 billion, a price-to-earnings ratio of -73.77 and a beta of 1.35. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The firm has a fifty day simple moving average of $202.78 and a 200 day simple moving average of $190.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. Research analysts forecast that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

About Snowflake

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.