Oddo BHF Asset Management Sas Sells 22,914 Shares of Snowflake Inc. $SNOW

Key Points

• Oddo BHF Asset Management Sas cut its Snowflake stake by 33.7% in the fourth quarter, selling 22,914 shares and leaving it with 44,989 shares valued at about $9.87 million.
• Snowflake reported stronger-than-expected quarterly results, with EPS of $0.39 versus the $0.32 estimate and revenue of $1.39 billion versus $1.32 billion expected, as revenue rose 33.5% year over year.
• Despite mixed insider selling, analysts remain constructive on the stock: Snowflake has a Moderate Buy consensus rating and an average price target of $291.77, while the shares were trading up 3.4% at $240.61.

Oddo BHF Asset Management Sas decreased its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 33.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,989 shares of the company's stock after selling 22,914 shares during the period. Oddo BHF Asset Management Sas' holdings in Snowflake were worth $9,869,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Temasek Holdings Private Ltd boosted its stake in shares of Snowflake by 96.6% during the 4th quarter. Temasek Holdings Private Ltd now owns 368,528 shares of the company's stock valued at $80,840,000 after purchasing an additional 181,101 shares in the last quarter. L2 Asset Management LLC boosted its stake in shares of Snowflake by 14.7% during the 4th quarter. L2 Asset Management LLC now owns 1,582 shares of the company's stock valued at $347,000 after purchasing an additional 203 shares in the last quarter. 71 West Capital Partners bought a new stake in shares of Snowflake during the 4th quarter valued at about $1,142,000. Faithward Advisors LLC boosted its stake in shares of Snowflake by 3.4% during the 4th quarter. Faithward Advisors LLC now owns 19,077 shares of the company's stock valued at $4,185,000 after purchasing an additional 632 shares in the last quarter. Finally, Sienna Gestion bought a new stake in shares of Snowflake during the 4th quarter valued at about $1,326,000. Institutional investors own 65.10% of the company's stock.

Snowflake Trading Up 3.4%

Shares of NYSE SNOW opened at $240.61 on Tuesday. The firm's 50 day moving average price is $175.41 and its 200-day moving average price is $189.78. The company has a market cap of $83.40 billion, a PE ratio of -68.35 and a beta of 1.35. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business's revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, equities research analysts expect that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $148.21, for a total value of $7,460,594.98. Following the transaction, the director owned 29,396 shares in the company, valued at approximately $4,356,781.16. This represents a 63.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the transaction, the director directly owned 38,046 shares of the company's stock, valued at $9,603,951.78. The trade was a 91.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,578,690 shares of company stock worth $357,534,217. Corporate insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Monness Crespi & Hardt lifted their target price on shares of Snowflake from $282.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Sanford C. Bernstein boosted their price objective on shares of Snowflake from $195.00 to $250.00 and gave the stock a "market perform" rating in a research note on Thursday, May 28th. Rosenblatt Securities boosted their price objective on shares of Snowflake from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. DA Davidson boosted their price objective on shares of Snowflake from $250.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Finally, Barclays boosted their price objective on shares of Snowflake from $272.00 to $285.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $291.77.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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