Snowflake Inc. $SNOW Shares Sold by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in Snowflake Inc. by 5.2%, owning approximately 0.06% of the company after selling 11,880 shares.
• Insider sales included Director Michael L. Speiser selling 50,338 shares, leading to a 58.80% decrease in his position, while a total of 1,182,434 shares were sold by insiders in the past 90 days.
• Snowflake's recent earnings report revealed a 31.8% increase in revenue year-over-year, with an EPS of $0.35, surpassing analysts' expectations of $0.27.

DekaBank Deutsche Girozentrale lessened its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,220 shares of the company's stock after selling 11,880 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.06% of Snowflake worth $48,013,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Goldman Sachs Group Inc. grew its holdings in Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after buying an additional 650,775 shares during the period. CenterBook Partners LP acquired a new position in Snowflake during the first quarter worth approximately $2,381,000. Berkshire Capital Holdings Inc. raised its stake in Snowflake by 71,500.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock worth $1,047,000 after purchasing an additional 7,150 shares during the period. Lyell Wealth Management LP boosted its holdings in shares of Snowflake by 5.1% in the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company's stock valued at $8,870,000 after purchasing an additional 2,955 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snowflake during the 2nd quarter valued at $3,900,134,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $224.85, for a total value of $11,318,499.30. Following the completion of the transaction, the director owned 35,276 shares in the company, valued at approximately $7,931,808.60. This trade represents a 58.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president directly owned 241,854 shares of the company's stock, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,182,434 shares of company stock worth $270,280,661. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of SNOW stock opened at $247.52 on Wednesday. The firm has a fifty day moving average of $224.55 and a two-hundred day moving average of $203.51. The firm has a market cap of $83.86 billion, a P/E ratio of -59.64 and a beta of 1.21. Snowflake Inc. has a 1-year low of $113.23 and a 1-year high of $255.39. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company's quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. As a group, research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SNOW shares. Sanford C. Bernstein increased their target price on Snowflake from $191.00 to $221.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. UBS Group increased their price target on Snowflake from $285.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Evercore ISI boosted their price objective on Snowflake from $240.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Robert W. Baird raised their target price on Snowflake from $215.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Finally, Jefferies Financial Group upped their target price on shares of Snowflake from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $257.24.

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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