Siemens Fonds Invest GmbH Cuts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Siemens Fonds Invest GmbH trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 47.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,843 shares of the company's stock after selling 5,174 shares during the period. Siemens Fonds Invest GmbH's holdings in Snowflake were worth $902,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNOW. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $29,000. West Paces Advisors Inc. acquired a new position in shares of Snowflake during the 4th quarter worth about $31,000. Spurstone Advisory Services LLC acquired a new stake in Snowflake in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new stake in Snowflake in the 4th quarter valued at about $31,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in Snowflake in the 4th quarter valued at about $32,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 849,779 shares of company stock valued at $158,838,193. 7.80% of the stock is owned by company insiders.

Snowflake Trading Up 1.7%

Shares of NYSE:SNOW traded up $3.38 during midday trading on Friday, reaching $205.69. The company's stock had a trading volume of 7,073,445 shares, compared to its average volume of 6,465,452. The firm has a market capitalization of $68.67 billion, a price-to-earnings ratio of -60.68 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a 50 day moving average price of $163.63 and a two-hundred day moving average price of $166.35. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $209.80.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company 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 business earned $0.14 EPS. The firm's revenue was up 25.8% compared to the same quarter last year. As a group, analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SNOW shares. Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Barclays reiterated an "overweight" rating and issued a $219.00 target price (up from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Oppenheimer reiterated an "outperform" rating and issued a $225.00 target price (up from $210.00) on shares of Snowflake in a research note on Thursday, May 22nd. UBS Group raised their target price on shares of Snowflake from $200.00 to $210.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Finally, Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $217.33.

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.