Snowflake Inc. $SNOW Stock Position Lessened by Generali Investments Towarzystwo Funduszy Inwestycyjnych

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych reduced its stake in Snowflake Inc. by 10.6%, now holding 21,000 shares worth approximately $4.7 million, making it their 10th largest holding.
• Several analysts boosted their price targets for Snowflake, with estimates ranging from $255 to $285, leading to a consensus rating of "Moderate Buy."
• Snowflake's stock showed recent volatility, currently priced at $252.91 after rising 4.7%, while still demonstrating significant institutional ownership of 65.10%.

Generali Investments Towarzystwo Funduszy Inwestycyjnych decreased its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,000 shares of the company's stock after selling 2,500 shares during the quarter. Snowflake comprises 2.5% of Generali Investments Towarzystwo Funduszy Inwestycyjnych's investment portfolio, making the stock its 10th largest holding. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Snowflake were worth $4,699,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Trust Co. of Toledo NA OH acquired a new stake in shares of Snowflake during the second quarter worth about $25,000. Avion Wealth raised its stake in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company's stock valued at $25,000 after acquiring an additional 49 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Snowflake by 748.0% during the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company's stock worth $31,000 after acquiring an additional 187 shares during the period. Whittier Trust Co. grew its stake in shares of Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company's stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased its holdings in shares of Snowflake by 53.1% in the first quarter. Tradewinds Capital Management LLC now owns 245 shares of the company's stock valued at $36,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several recent research reports. Piper Sandler boosted their price objective on shares of Snowflake from $215.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Canaccord Genuity Group boosted their price target on shares of Snowflake from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Snowflake from $225.00 to $255.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Thursday, August 28th. Finally, Evercore ISI lifted their price target on Snowflake from $240.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $257.24.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 7,551 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the transaction, the director owned 153,226 shares of the company's stock, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the business's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value 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 trade represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,182,434 shares of company stock valued at $270,280,661. Corporate insiders own 6.80% of the company's stock.

Snowflake Stock Up 4.7%

SNOW opened at $252.91 on Friday. 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 company has a market cap of $85.69 billion, a price-to-earnings ratio of -60.94 and a beta of 1.21. Snowflake Inc. has a one year low of $113.23 and a one year high of $255.39. The business's fifty day moving average is $226.60 and its two-hundred day moving average is $204.62.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $0.18 EPS. The business's revenue for the quarter was up 31.8% compared to the same quarter last year. Analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

About Snowflake

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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