Snowflake Inc. $SNOW Shares Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 49.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 58,423 shares of the company’s stock after selling 57,262 shares during the quarter. Danica Pension Livsforsikringsaktieselskab’s holdings in Snowflake were worth $19,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Silicon Valley Capital Partners boosted its stake in Snowflake by 15.2% during the second quarter. Silicon Valley Capital Partners now owns 62,087 shares of the company’s stock worth $15,801,000 after buying an additional 8,208 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Snowflake during the second quarter valued at about $1,399,000. Swiss National Bank raised its stake in shares of Snowflake by 7.1% in the 1st quarter. Swiss National Bank now owns 944,600 shares of the company’s stock valued at $142,465,000 after acquiring an additional 62,600 shares during the period. National Pension Service lifted its holdings in shares of Snowflake by 3.3% in the 2nd quarter. National Pension Service now owns 690,349 shares of the company’s stock worth $175,694,000 after acquiring an additional 21,915 shares during the last quarter. Finally, Ameritas Advisory Services LLC lifted its holdings in shares of Snowflake by 439.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,181 shares of the company’s stock worth $1,828,000 after acquiring an additional 5,851 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity

In other Snowflake news, Director Michael Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $353.87, for a total value of $17,813,108.06. Following the sale, the director directly owned 25,196 shares of the company’s stock, valued at approximately $8,916,108.52. This represents a 66.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $325.57, for a total transaction of $4,883,550.00. Following the completion of the sale, the executive vice president directly owned 325,379 shares in the company, valued at approximately $105,933,641.03. This represents a 4.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,186,443 shares of company stock worth $387,734,752. Insiders own 4.80% of the company’s stock.

Snowflake Stock Down 2.7%

Shares of Snowflake stock traded down $8.09 during trading hours on Friday, reaching $290.61. 2,931,762 shares of the company were exchanged, compared to its average volume of 4,594,023. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $384.56. The stock’s fifty day moving average is $324.69 and its 200 day moving average is $243.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $102.53 billion, a PE ratio of -91.39 and a beta of 1.32.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.17. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. Snowflake’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, equities research analysts forecast that Snowflake Inc. will post -1.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNOW. Oppenheimer lifted their target price on shares of Snowflake from $400.00 to $475.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. Yorkville Ives started coverage on Snowflake in a research note on Monday, October 5th. They set an “outperform” rating and a $400.00 price target on the stock. Raymond James Financial upped their price target on Snowflake from $275.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. Citizens Jmp raised their price target on Snowflake from $408.00 to $488.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 3rd. Finally, Monness Crespi & Hardt lifted their price objective on Snowflake from $380.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Thirty-six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $413.87.

Snowflake Company Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.