Snowflake Inc. $SNOW Shares Acquired by KBC Group NV

KBC Group NV increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,261 shares of the company’s stock after buying an additional 1,883 shares during the quarter. KBC Group NV’s holdings in Snowflake were worth $13,709,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Snowflake by 1.2% during the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after acquiring an additional 316,573 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Snowflake during the 2nd quarter valued at about $3,900,134,000. Jennison Associates LLC boosted its stake in Snowflake by 20.5% during the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after purchasing an additional 1,363,389 shares during the period. Price T Rowe Associates Inc. MD grew its position 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 last quarter. Finally, Nuveen LLC acquired a new stake in shares of Snowflake in the first quarter valued at approximately $555,847,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Trading Down 4.7%

Shares of Snowflake stock opened at $257.15 on Friday. The business has a fifty day simple moving average of $243.42 and a 200-day simple moving average of $217.75. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The firm has a market cap of $87.12 billion, a price-to-earnings ratio of -61.96 and a beta of 1.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) 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. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business earned $0.18 earnings per share. Snowflake’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

SNOW has been the subject of several analyst reports. Cantor Fitzgerald boosted their price objective on Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Stifel Nicolaus lifted their target price on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. KeyCorp increased their price target on Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, October 8th. Finally, Macquarie lifted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.89.

Insider Buying and Selling

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the transaction, the senior vice president owned 241,854 shares in the company, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $277.73, for a total value of $2,777,300.00. Following the sale, the executive vice president owned 522,450 shares of the company’s stock, valued at $145,100,038.50. This trade represents a 1.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 931,388 shares of company stock worth $216,578,628 in the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

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.