Edmond DE Rothschild Holding S.A. Sells 8,208 Shares of Snowflake Inc. $SNOW

Key Points

• Edmond DE Rothschild Holding S.A. reduced its stake in Snowflake Inc. by 49.3%, selling 8,208 shares during the first quarter, leaving them with 8,436 shares valued at approximately $1.23 million.
• Several hedge funds have recently adjusted their holdings in Snowflake, with Goldman Sachs increasing its stake by 22.2% and other firms making significant purchases or additions to their positions.
• Analyst ratings on Snowflake vary, with HSBC downgrading it to "sell," while others have maintained or established "buy" ratings, with an average target price of $255.53 across multiple analysts.

Edmond DE Rothschild Holding S.A. lessened its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 49.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,436 shares of the company's stock after selling 8,208 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Snowflake were worth $1,233,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after buying an additional 650,775 shares in the last quarter. CenterBook Partners LP purchased a new position in Snowflake during the 1st quarter valued at about $2,381,000. Berkshire Capital Holdings Inc. grew its holdings in Snowflake by 71,500.0% during the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock valued at $1,047,000 after buying an additional 7,150 shares in the last quarter. Lyell Wealth Management LP grew its holdings in Snowflake by 5.1% during the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company's stock valued at $8,870,000 after buying an additional 2,955 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Snowflake during the 1st quarter valued at about $898,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

SNOW has been the subject of a number of recent analyst reports. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Cowen reaffirmed a "buy" rating on shares of Snowflake in a report on Thursday, August 28th. Macquarie lifted their price target on Snowflake from $210.00 to $235.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Thursday, August 28th. Finally, DA Davidson reiterated a "buy" rating and set a $250.00 price target on shares of Snowflake in a research report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $255.53.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the completion of the sale, the executive vice president owned 527,336 shares in the company, valued at $123,132,956. The trade was a 1.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $84,102.07. Following the completion of the sale, the director owned 26,136 shares of the company's stock, valued at $5,454,321.84. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,176,168 shares of company stock worth $708,898,070 in the last quarter. 6.80% of the stock is owned by insiders.

Snowflake Stock Performance

NYSE:SNOW opened at $225.47 on Friday. The business has a 50 day moving average of $212.34 and a 200 day moving average of $187.29. The company has a market capitalization of $75.28 billion, a price-to-earnings ratio of -54.33 and a beta of 1.22. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $249.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 41.42% and a negative net margin of 33.53%.Snowflake's quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal 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.

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