Lombard Odier Asset Management Switzerland SA Invests $1.51 Million in Snowflake Inc. $SNOW

Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,990 shares of the company’s stock, valued at approximately $1,507,000.

A number of other large investors have also modified their holdings of SNOW. Vanguard Group Inc. lifted its holdings in shares of Snowflake by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after acquiring an additional 1,448,094 shares during the period. Jennison Associates LLC lifted its stake in Snowflake by 27.7% during the fourth 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 during the period. Nuveen LLC lifted its stake in Snowflake by 2.3% during the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after purchasing an additional 116,521 shares during the period. Geode Capital Management LLC boosted its holdings in Snowflake by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock valued at $1,052,195,000 after purchasing an additional 249,668 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $974,091,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Snowflake from $284.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Citigroup upped their price target on Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Jefferies Financial Group increased their price objective on Snowflake from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Loop Capital lifted their price objective on Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, HSBC set a $289.00 target price on shares of Snowflake and gave the company a “buy” rating in a research note on Friday, May 29th. Thirty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $296.27.

Insiders Place Their Bets

In related news, Director Mark Garrett sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the sale, the director owned 8,801 shares of the company’s stock, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 437,076 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68. Following the sale, the director owned 38,046 shares of the company’s stock, valued at approximately $9,603,951.78. The trade was a 91.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,802,015 shares of company stock valued at $421,739,629. Insiders own 4.80% of the company’s stock.

Snowflake Trading Up 1.8%

Shares of SNOW opened at $272.89 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $94.58 billion, a price-to-earnings ratio of -77.52 and a beta of 1.35. The stock has a fifty day moving average price of $241.28 and a two-hundred day moving average price of $195.44. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99.

Snowflake (NYSE:SNOW) last announced its 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. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Analysts predict that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Snowflake 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.