Bank Julius Baer & Co. Ltd Zurich Sells 10,410 Shares of Snowflake Inc. (NYSE:SNOW)

Bank Julius Baer & Co. Ltd Zurich reduced its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 85.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,781 shares of the company's stock after selling 10,410 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Snowflake were worth $260,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new stake in Snowflake in the first quarter valued at approximately $898,000. SBI Securities Co. Ltd. raised its holdings in Snowflake by 9.4% in the first quarter. SBI Securities Co. Ltd. now owns 60,591 shares of the company's stock valued at $8,856,000 after acquiring an additional 5,197 shares in the last quarter. Deutsche Bank AG raised its holdings in Snowflake by 26.0% in the fourth quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock valued at $142,513,000 after acquiring an additional 190,583 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Snowflake in the first quarter valued at approximately $9,090,000. Finally, Ardmore Road Asset Management LP acquired a new stake in Snowflake in the fourth quarter valued at approximately $18,529,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $4.53 on Friday, reaching $219.55. 3,256,701 shares of the company's stock were exchanged, compared to its average volume of 3,105,871. The firm has a market capitalization of $73.30 billion, a price-to-earnings ratio of -52.15 and a beta of 1.22. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $226.60. The business's 50-day moving average is $211.09 and its two-hundred day moving average is $180.82. 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 (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 firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. Snowflake's revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. As a group, equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity

In related news, Director Frank Slootman sold 100,483 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $223.55, for a total transaction of $22,462,974.65. Following the completion of the sale, the director owned 165,507 shares in the company, valued at $36,999,089.85. This trade represents a 37.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $221.47, for a total value of $89,252.41. Following the completion of the transaction, the director directly owned 26,539 shares of the company's stock, 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. Insiders have sold 2,708,258 shares of company stock valued at $588,162,906 over the last three months. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNOW. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 target price (up previously from $225.00) on shares of Snowflake in a report on Friday, June 13th. Daiwa America raised Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Truist Financial boosted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Cowen restated a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $205.00 target price on shares of Snowflake in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.73.

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.