Snowflake Inc. $SNOW Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Snowflake Inc. by 13.3%, now owning 310,708 shares valued at approximately $69.5 million.
• Several institutional investors, including Vanguard and Goldman Sachs, have increased their holdings, leading to institutional ownership reaching 65.10% of Snowflake's stock.
• Recent analyst reports indicate a shift in sentiment, with multiple firms raising their price targets, resulting in a consensus target price of $255.53 for Snowflake shares.

Robeco Institutional Asset Management B.V. lessened its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 310,708 shares of the company's stock after selling 47,858 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.09% of Snowflake worth $69,527,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Snowflake by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after buying an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Snowflake in the 2nd quarter worth about $3,900,134,000. Price T Rowe Associates Inc. MD raised its holdings in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock worth $691,693,000 after purchasing an additional 763,673 shares during the period. Nuveen LLC acquired a new position in Snowflake in the 1st quarter worth about $555,847,000. Finally, Goldman Sachs Group Inc. raised 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 worth $524,293,000 after purchasing an additional 650,775 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Ratings Changes

SNOW has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on Snowflake from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. UBS Group increased their target price on Snowflake from $250.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Wedbush increased their target price on Snowflake from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Royal Bank Of Canada increased their target price on Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Finally, Barclays increased their target price on Snowflake from $219.00 to $255.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $255.53.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 7,551 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the completion of the transaction, the director directly owned 153,226 shares in the company, valued at approximately $33,899,720.24. This represents a 4.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $223.88, for a total value of $2,238,800.00. Following the completion of the transaction, the executive vice president owned 532,450 shares of the company's stock, valued at $119,204,906. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,601,630 shares of company stock valued at $362,990,571. 6.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

NYSE:SNOW opened at $240.51 on Friday. Snowflake Inc. has a one year low of $108.71 and a one year high of $249.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $81.48 billion, a PE ratio of -57.95 and a beta of 1.21. The stock has a 50 day moving average price of $215.62 and a 200 day moving average price of $195.06.

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

Snowflake Company 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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