Robeco Schweiz AG Purchases 11,600 Shares of Snowflake Inc. (NYSE:SNOW)

Robeco Schweiz AG grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 31.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,000 shares of the company's stock after acquiring an additional 11,600 shares during the period. Robeco Schweiz AG's holdings in Snowflake were worth $7,016,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SNOW. Brighton Jones LLC raised its holdings in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after purchasing an additional 29,320 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Snowflake during the 4th quarter worth about $8,321,000. PNC Financial Services Group Inc. boosted its holdings in shares of Snowflake by 2.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,715 shares of the company's stock worth $2,581,000 after buying an additional 465 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Snowflake by 21.8% during the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock worth $64,000 after buying an additional 74 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Snowflake by 2.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,966 shares of the company's stock valued at $13,583,000 after buying an additional 2,259 shares during the last quarter. Institutional investors own 65.10% of the company's stock.

Snowflake Stock Performance

NYSE:SNOW opened at $214.29 on Friday. 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 $71.54 billion, a price-to-earnings ratio of -50.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The business's fifty day moving average is $202.68 and its 200 day moving average is $176.69.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS 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 business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The business's quarterly revenue was up 25.8% compared to the same quarter last year. Research analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the transaction, the chief financial officer directly owned 292,610 shares in the company, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 424,852 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the sale, the director owned 165,507 shares of the company's stock, valued at approximately $36,303,960.45. The trade was a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,718,258 shares of company stock valued at $589,762,906 over the last 90 days. 6.80% of the stock is owned by insiders.

Analysts Set New Price Targets

SNOW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. UBS Group raised Snowflake from a "neutral" rating to a "buy" rating and upped their price objective for the company from $210.00 to $265.00 in a report on Wednesday, June 4th. Bank of America lifted their target price on Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Sanford C. Bernstein restated a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, HSBC downgraded shares of Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.36.

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.

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