Lbp Am Sa Reduces Position in Snowflake Inc. (NYSE:SNOW)

Lbp Am Sa lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,300 shares of the company's stock after selling 31,300 shares during the period. Lbp Am Sa owned 0.06% of Snowflake worth $29,130,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SNOW. Rehmann Capital Advisory Group lifted its holdings in Snowflake by 4.7% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,020 shares of the company's stock worth $295,000 after buying an additional 90 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Snowflake by 5.7% in the first quarter. Linden Thomas Advisory Services LLC now owns 12,214 shares of the company's stock valued at $1,785,000 after purchasing an additional 657 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Snowflake by 5.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company's stock valued at $33,168,000 after purchasing an additional 11,880 shares during the period. OMNI 360 Wealth Inc. acquired a new position in Snowflake during the first quarter worth about $338,000. Finally, Values First Advisors Inc. acquired a new position in Snowflake during the first quarter worth about $338,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNOW. JMP Securities reaffirmed a "market outperform" rating and set a $245.00 price target on shares of Snowflake in a research report on Wednesday, June 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $215.00 price target (up from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Citigroup reissued an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Morgan Stanley initiated coverage on shares of Snowflake in a report on Tuesday, June 24th. They set an "overweight" rating and a $262.00 target price on the stock. Finally, Robert W. Baird increased their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $225.36.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 178,949 shares of Snowflake stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $221.16, for a total value of $39,576,360.84. Following the transaction, the director directly owned 165,507 shares in the company, valued at approximately $36,603,528.12. This trade represents a 51.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 1,146 shares of Snowflake stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total value of $249,530.04. Following the completion of the sale, the director owned 4,474 shares in the company, valued at approximately $974,168.76. This trade represents a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,294,062 shares of company stock valued at $495,050,427 in the last quarter. Corporate insiders own 6.80% of the company's stock.

Snowflake Stock Down 1.0%

Shares of SNOW opened at $223.47 on Wednesday. The company has a market cap of $74.61 billion, a PE ratio of -53.08 and a beta of 1.22. The business has a fifty day moving average of $200.46 and a 200 day moving average of $176.01. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $0.14 earnings per share. The company's quarterly revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS 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.

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