Robeco Schweiz AG Increases Stake in Snowflake Inc. (NYSE:SNOW)

Robeco Schweiz AG raised its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 31.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,000 shares of the company's stock after buying an additional 11,600 shares during the period. Robeco Schweiz AG's holdings in Snowflake were worth $7,016,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SNOW. Norges Bank bought a new stake in shares of Snowflake during the 4th quarter valued at $988,950,000. FMR LLC grew its position in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the period. GQG Partners LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $750,572,000. Geode Capital Management LLC grew its position in shares of Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after acquiring an additional 15,314 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after acquiring an additional 2,200,406 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Down 1.8%

Snowflake stock traded down $3.78 during midday trading on Friday, reaching $210.64. The stock had a trading volume of 3,867,733 shares, compared to its average volume of 6,007,748. 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 Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The firm has a market cap of $70.33 billion, a price-to-earnings ratio of -50.03 and a beta of 1.22. The company has a fifty day moving average of $203.53 and a 200 day moving average of $177.12.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNOW. Daiwa Capital Markets initiated coverage on shares of Snowflake in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $245.00 target price on shares of Snowflake in a report on Wednesday, June 4th. Oppenheimer reaffirmed an "outperform" rating on shares of Snowflake in a report on Tuesday, June 24th. Monness Crespi & Hardt upped their target price on shares of Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Hsbc Global Res downgraded shares of Snowflake from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $225.36.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 100,483 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $223.55, for a total value of $22,462,974.65. Following the transaction, the director directly owned 165,507 shares in the company, valued at $36,999,089.85. This represents a 37.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $221.47, for a total transaction of $89,252.41. Following the completion of the transaction, 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. Over the last quarter, insiders sold 2,718,258 shares of company stock valued at $589,762,906. Company insiders own 6.80% of the company's stock.

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.