Snowflake Inc. $SNOW Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in Snowflake Inc. by 21.6%, selling 7,076 shares and holding 25,739 shares valued at approximately $3.75 million.
• The company has seen several institutional investors, such as Vanguard Group Inc. and Price T Rowe Associates Inc., increase their holdings significantly, indicating strong interest among large investors.
• Despite a recent earnings report that topped estimates, equities analysts have mixed ratings with a consensus of "Moderate Buy" and a price target averaging around $226.86 for the stock.

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 21.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,739 shares of the company's stock after selling 7,076 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Snowflake were worth $3,755,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Vanguard Group Inc. boosted its holdings in Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after purchasing an additional 316,573 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after purchasing an additional 2,200,406 shares in the last quarter. Nuveen LLC acquired a new position in Snowflake in the first quarter valued at approximately $555,847,000. Goldman Sachs Group Inc. boosted its holdings in Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after purchasing an additional 650,775 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Snowflake by 26.5% in the first quarter. Invesco Ltd. now owns 3,088,288 shares of the company's stock valued at $451,384,000 after purchasing an additional 647,176 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $84,102.07. Following the completion of the transaction, the director owned 26,136 shares in the company, valued at approximately $5,454,321.84. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $216.00, for a total value of $2,160,000.00. Following the completion of the transaction, the executive vice president owned 537,336 shares of the company's stock, valued at $116,064,576. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,009,642 shares of company stock worth $656,325,186 over the last three months. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SNOW shares. Hsbc Global Res downgraded Snowflake from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Royal Bank Of Canada upped their price target on Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Truist Financial boosted their price objective on Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Citigroup reiterated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Mizuho boosted their price objective on Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Three analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $226.86.

Snowflake Price Performance

Snowflake stock opened at $194.6370 on Thursday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $229.27. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The business has a 50 day simple moving average of $211.66 and a 200-day simple moving average of $184.80. The stock has a market capitalization of $64.98 billion, a PE ratio of -46.23 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%.The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The company's quarterly revenue was up 25.8% compared to the same quarter last year. Equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.

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