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Snowflake Inc. (NYSE:SNOW) Shares Acquired by Generali Powszechne Towarzystwo Emerytalne

Snowflake logo with Computer and Technology background

Key Points

  • Generali Powszechne Towarzystwo Emerytalne increased its stake in Snowflake Inc. by 8.3%, now owning 130,600 shares worth approximately $19 million.
  • Snowflake reported a quarterly revenue of $1.04 billion, exceeding analyst expectations and reflecting a 25.8% year-over-year growth.
  • Analysts have a mixed outlook on Snowflake, with an average price target of $226.73 and ratings ranging from "strong sell" to "strong buy."
  • MarketBeat previews top five stocks to own in September.

Generali Powszechne Towarzystwo Emerytalne lifted its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,600 shares of the company's stock after acquiring an additional 10,000 shares during the period. Snowflake accounts for 6.0% of Generali Powszechne Towarzystwo Emerytalne's holdings, making the stock its 6th largest position. Generali Powszechne Towarzystwo Emerytalne's holdings in Snowflake were worth $19,088,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SNOW. Opal Wealth Advisors LLC purchased a new position in Snowflake during the first quarter worth approximately $26,000. CVA Family Office LLC lifted its position in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares in the last quarter. West Paces Advisors Inc. purchased a new position in Snowflake during the fourth quarter worth approximately $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake during the fourth quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new position in Snowflake during the fourth quarter worth approximately $31,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of Snowflake stock traded down $18.43 during trading on Friday, reaching $205.07. The company's stock had a trading volume of 8,572,486 shares, compared to its average volume of 3,517,346. The company has a 50-day moving average price of $213.88 and a two-hundred day moving average price of $182.94. The firm has a market cap of $68.46 billion, a PE ratio of -48.71 and a beta of 1.22. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $229.27. 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 announced its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company's quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. On average, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity

In other Snowflake news, Director Mark Garrett sold 67,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $198.98, for a total value of $13,331,660.00. Following the transaction, the director directly owned 7,428 shares of the company's stock, valued at approximately $1,478,023.44. The trade was a 90.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 424,852 shares of the firm's stock in a transaction 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 $36,303,960.45. This trade represents a 71.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,697,855 shares of company stock valued at $586,415,198 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on SNOW. Citigroup reiterated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. CICC Research began coverage on Snowflake in a report on Friday, June 20th. They issued an "outperform" rating and a $225.00 price objective on the stock. UBS Group upgraded 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 upped their price objective on Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $250.00 price objective (up from $225.00) on shares of Snowflake in a report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus price target of $226.73.

Check Out Our Latest Stock Report on SNOW

Snowflake Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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