Banque Transatlantique SA Sells 4,488 Shares of Snowflake Inc. $SNOW

Key Points

• Banque Transatlantique SA sold 4,488 shares of Snowflake Inc., reducing its holdings by 55.1% to 3,657 shares, valued at $494,000.
• Insiders have sold a total of 3,216,909 shares of Snowflake stock in the last three months, indicating significant insider selling activity.
• Analysts have raised their price targets for Snowflake, with Goldman Sachs increasing its target from $230 to $260, reflecting optimism about the company's growth.

Banque Transatlantique SA decreased its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 55.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,657 shares of the company's stock after selling 4,488 shares during the quarter. Banque Transatlantique SA's holdings in Snowflake were worth $494,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter valued at approximately $26,000. CVA Family Office LLC raised its position in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares during the last quarter. Spurstone Advisory Services LLC bought a new position in Snowflake during the 4th quarter valued at $31,000. Capital A Wealth Management LLC bought a new position in Snowflake during the 4th quarter valued at $31,000. Finally, Golden State Wealth Management LLC boosted its holdings in Snowflake by 748.0% during the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company's stock worth $31,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $229.21 on Thursday. The stock has a fifty day simple moving average of $212.27 and a two-hundred day simple moving average of $186.83. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $249.99. The firm has a market cap of $76.53 billion, a price-to-earnings ratio of -55.23 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 41.42% and a negative net margin of 33.53%.The business's revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. Analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Teresa Briggs sold 1,146 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total transaction of $249,530.04. Following the completion of the transaction, the director owned 4,474 shares in the company, valued at $974,168.76. This trade represents a 20.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares of the company's stock, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,216,909 shares of company stock valued at $717,287,181 in the last three months. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

SNOW has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Snowflake from $230.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Truist Financial lifted their target price on shares of Snowflake from $235.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Royal Bank Of Canada upped their target price on Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Scotiabank increased their price target on Snowflake from $230.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Finally, Guggenheim reiterated a "neutral" rating on shares of Snowflake in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $255.53.

About Snowflake

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.

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