Generali Investments Towarzystwo Funduszy Inwestycyjnych Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Key Points

• Generali Investments increased its stock position in Snowflake Inc. by 25.7% during the first quarter, now holding 23,500 shares, which are valued at approximately $3.43 million.
• Snowflake's stock currently has a market capitalization of $68.46 billion and a recent price-to-earnings ratio of -48.71.
• Insiders sold a total of 2.7 million shares of Snowflake valued at approximately $586 million over the last quarter, indicating a notable decrease in their holdings.

Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 25.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,500 shares of the company's stock after acquiring an additional 4,800 shares during the period. Snowflake comprises approximately 2.2% of Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings, making the stock its 11th largest position. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Snowflake were worth $3,435,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Snowflake in the 1st quarter worth approximately $26,000. CVA Family Office LLC grew its position in Snowflake by 80.0% in the 1st 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. bought a new stake in Snowflake in the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake in the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake in the 4th quarter worth approximately $31,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Down 8.2%

Shares of NYSE SNOW opened at $205.07 on Friday. The firm's 50-day moving average price is $213.88 and its 200-day moving average price is $182.84. 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 $68.46 billion, a price-to-earnings ratio of -48.71 and a beta of 1.22. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $229.27.

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

Insider Buying and Selling at Snowflake

In other news, Director Teresa Briggs sold 1,146 shares of the company's 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 sale, the director directly owned 4,474 shares in the company, valued at approximately $974,168.76. This represents a 20.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $221.47, for a total transaction of $89,252.41. Following the sale, the director owned 26,539 shares in the company, valued at $5,877,592.33. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,697,855 shares of company stock valued at $586,415,198 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on SNOW. Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a research report on Wednesday, June 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $205.00 target price on shares of Snowflake in a research report on Monday, May 19th. JPMorgan Chase & Co. lifted their target price on shares of Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Cowen reaffirmed a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, KeyCorp reissued an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $226.73.

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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