BDF Gestion Sells 1,376 Shares of Snowflake Inc. $SNOW

Key Points

• BDF Gestion reduced its stock position in Snowflake Inc. (NYSE:SNOW) by 9.8% in Q2, owning 12,624 shares with a total worth of $2.83 million after selling 1,376 shares.
• Snowflake reported $1.14 billion in revenue for the last quarter, exceeding expectations, and achieved earnings per share of $0.35, beating analysts' estimates.
• Institutional investors now hold 65.10% of Snowflake's shares, with various hedge funds increasing or acquiring new positions in the company recently.

BDF Gestion reduced its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,624 shares of the company's stock after selling 1,376 shares during the period. BDF Gestion's holdings in Snowflake were worth $2,825,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Diversified Trust Co grew its holdings in shares of Snowflake by 2.6% during the 2nd quarter. Diversified Trust Co now owns 5,732 shares of the company's stock worth $1,283,000 after purchasing an additional 143 shares in the last quarter. Perpetual Ltd boosted its position in shares of Snowflake by 23.1% in the 2nd quarter. Perpetual Ltd now owns 14,800 shares of the company's stock worth $3,312,000 after purchasing an additional 2,774 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the 2nd quarter worth about $3,900,134,000. IFM Investors Pty Ltd increased its holdings in Snowflake by 12.2% in the second quarter. IFM Investors Pty Ltd now owns 60,616 shares of the company's stock valued at $13,564,000 after buying an additional 6,596 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Snowflake during the 2nd quarter valued at approximately $90,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Price Performance

Shares of SNOW stock traded up $8.29 on Friday, hitting $230.40. The company's stock had a trading volume of 7,769,335 shares, compared to its average volume of 8,027,547. The firm's fifty day moving average price is $213.16 and its 200-day moving average price is $190.73. Snowflake Inc. has a fifty-two week low of $108.71 and a fifty-two week high of $249.99. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly 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 net margin of 33.53% and a negative return on equity of 42.98%. The company's revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. On average, analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on SNOW shares. Raymond James Financial upped their target price on shares of Snowflake from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Macquarie lifted their target price on shares of Snowflake from $210.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. CICC Research started coverage on shares of Snowflake in a report on Friday, June 20th. They set an "outperform" rating and a $225.00 price objective on the stock. Needham & Company LLC raised their price target on Snowflake from $230.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Finally, Robert W. Baird boosted their target price on Snowflake from $215.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $255.53.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 2,975 shares of Snowflake stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total transaction of $658,189.00. Following the completion of the transaction, the executive vice president directly owned 547,724 shares of the company's stock, valued at $121,178,457.76. This trade represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.84, for a total transaction of $90,610.52. Following the completion of the transaction, the director directly owned 25,733 shares in the company, valued at $5,785,807.72. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,224,646 shares of company stock valued at $720,005,171 in the last quarter. Company insiders own 6.80% of the company's stock.

Snowflake Company Profile

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.