Bank Julius Baer & Co. Ltd Zurich Acquires 596,906 Shares of Snowflake Inc. $SNOW

Key Points

• Bank Julius Baer & Co. Ltd Zurich dramatically increased its Snowflake stake in the fourth quarter, lifting holdings by 40,468.2% to 598,381 shares worth about $131.6 million.
• Insider selling has been notable, with director Michael L. Speiser and EVP Christian Kleinerman both trimming positions, and insiders selling 384,313 shares over the last three months.
• Snowflake beat quarterly expectations, posting EPS of $0.32 versus the $0.27 estimate and revenue of $1.28 billion, while analysts still rate the stock a “Moderate Buy” with an average target price of $242.19.

Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 40,468.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 598,381 shares of the company's stock after acquiring an additional 596,906 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.17% of Snowflake worth $131,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Total Clarity Wealth Management Inc. boosted its stake in shares of Snowflake by 2.7% in the third quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company's stock worth $340,000 after acquiring an additional 40 shares during the period. Diligent Investors LLC grew its holdings in Snowflake by 0.9% during the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company's stock valued at $1,036,000 after buying an additional 40 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Snowflake by 44.1% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company's stock valued at $36,000 after buying an additional 49 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in Snowflake by 10.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company's stock valued at $120,000 after buying an additional 50 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings in Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock valued at $33,000 after buying an additional 50 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $141.59, for a total value of $57,060.77. Following the completion of the sale, the director directly owned 22,509 shares of the company's stock, valued at $3,187,049.31. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,621 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $170.01, for a total value of $445,596.21. Following the completion of the sale, the executive vice president directly owned 533,494 shares of the company's stock, valued at $90,699,314.94. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 384,313 shares of company stock worth $64,308,373. 6.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

NYSE:SNOW opened at $152.39 on Thursday. The firm has a market capitalization of $52.68 billion, a price-to-earnings ratio of -38.58 and a beta of 1.08. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $280.67. The business has a 50 day simple moving average of $155.53 and a 200-day simple moving average of $197.77. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company's revenue for the quarter was up 30.1% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. Equities analysts forecast that Snowflake Inc. will post -2.16 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Snowflake in a report on Wednesday, January 21st. UBS Group cut their price target on Snowflake from $235.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, April 21st. Stifel Nicolaus set a $205.00 price target on Snowflake in a report on Thursday, February 26th. Cantor Fitzgerald restated an "overweight" rating and set a $250.00 price target on shares of Snowflake in a report on Monday, February 23rd. Finally, Royal Bank Of Canada set a $245.00 price target on Snowflake in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and an average target price of $242.19.

Snowflake Company 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.

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