Snowflake Inc. (NYSE:SNOW) Shares Purchased by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in Snowflake Inc. by 168.7% during the first quarter, owning 5,459 shares valued at approximately $798,000 by the quarter's end.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Snowflake, with a consensus price target of $226.73, reflecting positive outlooks from various institutions.
• Insiders have sold over 3 million shares of Snowflake stock in the last 90 days, totaling approximately $657 million in sales, indicating potential shifts in confidence among company leadership.

J. Safra Sarasin Holding AG increased its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 168.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,459 shares of the company's stock after buying an additional 3,427 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Snowflake were worth $798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new stake in Snowflake in the 1st quarter valued at approximately $26,000. CVA Family Office LLC boosted its holdings in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. purchased a new stake in Snowflake in the 4th quarter valued at approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake in the 4th quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SNOW shares. Macquarie lifted their price objective on Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. BTIG Research reaffirmed a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $212.00 price objective (up previously from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Stifel Nicolaus lifted their price objective on Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.73.

Snowflake Trading Down 1.3%

Shares of Snowflake stock traded down $2.74 during trading hours on Tuesday, reaching $205.74. 3,935,924 shares of the company's stock were exchanged, compared to its average volume of 3,483,977. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $229.27. The firm has a market capitalization of $68.69 billion, a price-to-earnings ratio of -48.87 and a beta of 1.22. The company has a fifty day moving average of $214.05 and a 200-day moving average of $183.20. 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 issued its quarterly earnings results 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. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 EPS. Sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $208.69, for a total transaction of $84,102.07. Following the completion of the sale, the director directly owned 26,136 shares in the company, valued at $5,454,321.84. This represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 256,046 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $227.15, for a total value of $58,160,848.90. Following the sale, the director owned 165,507 shares of the company's stock, valued at approximately $37,594,915.05. The trade was a 60.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,014,642 shares of company stock valued at $657,325,186. Corporate insiders own 6.80% of the company's stock.

Snowflake 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.