BOCHK Asset Management Ltd Trims Stock Holdings in Snowflake Inc. (NYSE:SNOW)

BOCHK Asset Management Ltd decreased its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 97.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,107 shares of the company's stock after selling 47,493 shares during the period. BOCHK Asset Management Ltd's holdings in Snowflake were worth $162,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SNOW. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the 1st quarter valued at about $26,000. CVA Family Office LLC raised its stake in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. acquired a new position in Snowflake in the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on SNOW shares. Barclays reiterated an "overweight" rating and issued a $219.00 price objective (up from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. Royal Bank Of Canada increased their price target on Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Scotiabank restated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Oppenheimer reaffirmed an "outperform" rating on shares of Snowflake in a research note on Tuesday, June 24th. Finally, Bank of America lifted their price target on shares of Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $225.36.

Insider Buying and Selling

In other news, Director Michael L. Speiser sold 50,338 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $211.35, for a total transaction of $10,638,936.30. Following the completion of the sale, the director owned 37,796 shares in the company, valued at approximately $7,988,184.60. The trade was a 57.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 424,852 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the transaction, the director owned 165,507 shares of the company's stock, valued at approximately $36,303,960.45. The trade was a 71.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,876,557 shares of company stock valued at $403,565,119 over the last three months. 6.80% of the stock is currently owned by insiders.

Snowflake Stock Up 1.9%

NYSE:SNOW traded up $4.22 during trading hours on Monday, hitting $225.71. The company's stock had a trading volume of 4,050,673 shares, compared to its average volume of 6,048,490. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $225.83. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $75.36 billion, a P/E ratio of -53.61 and a beta of 1.22. The stock has a fifty day moving average of $197.86 and a 200-day moving average of $175.27.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 EPS. On average, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.