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

Key Points

• Kepler Cheuvreux Suisse SA opened a new position in Snowflake during the first quarter, buying 4,655 shares worth about $702,000.
• Several other institutional investors also increased or initiated positions, and institutions now own 65.10% of Snowflake’s stock.
• Snowflake reported strong quarterly results, with EPS of $0.39 beating estimates and revenue of $1.39 billion, up 33.5% year over year; analysts maintain a Moderate Buy consensus with an average target price of $293.53.

Kepler Cheuvreux Suisse SA purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,655 shares of the company's stock, valued at approximately $702,000.

Several other institutional investors have also recently bought and sold shares of the business. QRG Capital Management Inc. increased its stake in shares of Snowflake by 13.7% in the first quarter. QRG Capital Management Inc. now owns 48,919 shares of the company's stock valued at $7,378,000 after buying an additional 5,877 shares in the last quarter. Simplify Asset Management Inc. acquired a new position in Snowflake during the 1st quarter worth about $261,000. HB Wealth Management LLC lifted its position in Snowflake by 30.4% during the 1st quarter. HB Wealth Management LLC now owns 8,907 shares of the company's stock worth $1,343,000 after buying an additional 2,077 shares in the last quarter. World Investment Advisors grew its holdings in Snowflake by 4.8% during the 1st quarter. World Investment Advisors now owns 5,535 shares of the company's stock worth $835,000 after acquiring an additional 255 shares during the last quarter. Finally, Argos Wealth Advisors LLC grew its holdings in Snowflake by 16.7% during the 1st quarter. Argos Wealth Advisors LLC now owns 2,450 shares of the company's stock worth $370,000 after acquiring an additional 351 shares during the last quarter. Institutional investors own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

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

Snowflake Trading Down 0.2%

SNOW opened at $259.67 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $90.00 billion, a price-to-earnings ratio of -73.77 and a beta of 1.35. The firm has a 50 day simple moving average of $202.78 and a 200 day simple moving average of $190.28. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business's revenue for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. On average, sell-side analysts anticipate that Snowflake Inc. will post -1.87 earnings per share for the current year.

Analysts Set New Price Targets

SNOW has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Snowflake from $272.00 to $285.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 4th. Canaccord Genuity Group raised their price target on shares of Snowflake from $240.00 to $325.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Stifel Nicolaus boosted their price objective on shares of Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Bank of America upped their price objective on Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Finally, Loop Capital lifted their target price on Snowflake from $290.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $293.53.

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.

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