Snowflake Inc. $SNOW Position Lowered by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer cut its Snowflake position by 42.8% in the third quarter, selling 233,766 shares and retaining 312,395 shares valued at approximately $105.5 million.
• Institutional ownership remains substantial at 65.1%, with several major funds—including Assenagon, Swedbank and Harel Insurance—adding to their Snowflake holdings.
• Snowflake reported quarterly revenue of $1.55 billion, up 35.1% year over year, and beat earnings expectations. Analysts maintain a “Moderate Buy” consensus with a $413.87 average price target, although insiders sold approximately $396.9 million of stock over the past 90 days.

Bank Julius Baer & Co. Ltd Zurich lessened its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 42.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,395 shares of the company's stock after selling 233,766 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.09% of Snowflake worth $105,475,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in Snowflake by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company's stock worth $452,014,000 after acquiring an additional 544,960 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Snowflake by 134.5% during the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company's stock worth $268,351,000 after acquiring an additional 453,342 shares during the period. Swedbank AB boosted its stake in Snowflake by 24.0% in the first quarter. Swedbank AB now owns 1,649,771 shares of the company's stock valued at $248,818,000 after acquiring an additional 319,356 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Snowflake by 76.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company's stock worth $176,736,000 after purchasing an additional 509,230 shares during the last quarter. Finally, National Pension Service grew its stake in Snowflake by 3.3% in the 2nd quarter. National Pension Service now owns 690,349 shares of the company's stock valued at $175,694,000 after acquiring an additional 21,915 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Down 0.4%

Shares of Snowflake stock opened at $304.86 on Monday. The company has a market cap of $107.55 billion, a P/E ratio of -95.87 and a beta of 1.32. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $384.56. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a 50-day simple moving average of $331.88 and a two-hundred day simple moving average of $239.75.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.17. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business's quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, equities analysts predict that Snowflake Inc. will post -1.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SNOW. Yorkville Ives began coverage on Snowflake in a research note on Monday, October 5th. They issued an "outperform" rating and a $400.00 price objective for the company. Phillip Securities lowered shares of Snowflake from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, October 12th. Rosenblatt Securities raised their price target on Snowflake from $285.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, September 1st. Jefferies Financial Group set a $430.00 price objective on Snowflake and gave the stock a "buy" rating in a report on Thursday, September 3rd. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Snowflake in a research note on Tuesday, September 8th. Thirty-six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $413.87.

Insider Activity at Snowflake

In other Snowflake news, Director Michael Speiser sold 403 shares of Snowflake stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $344.00, for a total transaction of $138,632.00. Following the completion of the sale, the director owned 21,767 shares of the company's stock, valued at $7,487,848. This trade represents a 1.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 300,000 shares of the company's stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $316.43, for a total value of $94,929,000.00. Following the transaction, the director owned 19,024 shares of the company's stock, valued at approximately $6,019,764.32. This trade represents a 94.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,206,443 shares of company stock valued at $396,866,828. Corporate insiders own 4.80% of the company's stock.

Snowflake Company Profile

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.

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