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

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

Several other large investors also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in Snowflake in the 1st quarter worth approximately $898,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Snowflake by 455.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock valued at $19,174,000 after buying an additional 101,806 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in shares of Snowflake during the 4th quarter valued at about $3,088,000. Deutsche Bank AG lifted its holdings in shares of Snowflake by 26.0% during the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after acquiring an additional 190,583 shares during the period. Finally, Artemis Investment Management LLP purchased a new stake in Snowflake in the first quarter valued at approximately $9,090,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Down 1.9%

SNOW traded down $4.29 during midday trading on Thursday, reaching $217.61. The company's stock had a trading volume of 2,701,319 shares, compared to its average volume of 5,292,762. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $226.60. The stock's 50-day moving average is $201.70 and its 200-day moving average is $176.33. The firm has a market capitalization of $72.65 billion, a price-to-earnings ratio of -51.69 and a beta of 1.22. 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 (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 EPS 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted $0.14 earnings per share. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Truist Financial boosted their target price on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Barclays restated an "overweight" rating and set a $219.00 target price (up previously from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Bank of America increased their target price on Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley started coverage on Snowflake in a report on Tuesday, June 24th. They issued an "overweight" rating and a $262.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $225.36.

Insider Activity

In related news, Director Frank Slootman sold 100,483 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $223.55, for a total transaction of $22,462,974.65. Following the sale, the director directly owned 165,507 shares of the company's stock, valued at $36,999,089.85. This trade represents a 37.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 1,146 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total value of $249,530.04. Following the sale, the director owned 4,474 shares of the company's stock, valued at approximately $974,168.76. This represents a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,718,258 shares of company stock worth $589,762,906. Corporate insiders own 6.80% of the company's stock.

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.