Lbp Am Sa Sells 31,300 Shares of Snowflake Inc. (NYSE:SNOW)

LBP AM SA reduced its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 13.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,300 shares of the company's stock after selling 31,300 shares during the period. LBP AM SA owned approximately 0.06% of Snowflake worth $29,130,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in Snowflake in the first quarter worth $898,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Snowflake by 455.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after purchasing an additional 101,806 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in Snowflake in the fourth quarter worth $3,088,000. Deutsche Bank AG raised its holdings in Snowflake by 26.0% in the fourth quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after purchasing an additional 190,583 shares during the period. Finally, Artemis Investment Management LLP acquired a new stake in Snowflake in the first quarter worth $9,090,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research reports. Bank of America increased their price objective on shares of Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Mizuho increased their price objective on shares of Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, June 5th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. 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 two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.36.

Snowflake Price Performance

SNOW stock traded down $1.89 during mid-day trading on Wednesday, hitting $221.61. The stock had a trading volume of 2,623,392 shares, compared to its average volume of 6,030,886. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $226.60. The firm has a market capitalization of $73.99 billion, a P/E ratio of -52.64 and a beta of 1.22. The firm has a fifty day simple moving average of $200.46 and a 200 day simple moving average of $176.01.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 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 analyst estimates 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 quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. As a group, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the sale, the executive vice president directly owned 547,336 shares of the company's stock, valued at approximately $119,806,377.04. The trade was a 1.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on 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 directly owned 26,539 shares in the company, valued at $5,877,592.33. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,718,258 shares of company stock valued at $589,762,906. Company insiders own 6.80% of the company's stock.

Snowflake 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.