BDF Gestion Buys 5,173 Shares of Snowflake Inc. $SNOW

BDF Gestion bought a new position in Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,173 shares of the company’s stock, valued at approximately $1,757,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Generali Investments Management Co LLC increased its position in Snowflake by 172.9% in the 3rd quarter. Generali Investments Management Co LLC now owns 3,652 shares of the company’s stock worth $1,240,000 after buying an additional 2,314 shares during the period. SteelPeak Wealth LLC raised its stake in Snowflake by 5.6% during the third quarter. SteelPeak Wealth LLC now owns 3,273 shares of the company’s stock worth $1,111,000 after acquiring an additional 175 shares in the last quarter. CRA Financial Services LLC bought a new position in Snowflake during the 3rd quarter valued at about $191,000. Frank Rimerman Advisors LLC boosted its holdings in shares of Snowflake by 2.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,935 shares of the company’s stock worth $997,000 after acquiring an additional 80 shares in the last quarter. Finally, KRS Capital Management LLC increased its stake in shares of Snowflake by 3.9% in the third quarter. KRS Capital Management LLC now owns 2,413 shares of the company’s stock valued at $819,000 after buying an additional 91 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SNOW. Stifel Nicolaus increased their price target on shares of Snowflake from $350.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Mizuho set a $425.00 price objective on shares of Snowflake in a research report on Thursday, September 3rd. TD Cowen upped their price objective on Snowflake from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Evercore reiterated an “outperform” rating and issued a $430.00 price objective on shares of Snowflake in a research report on Thursday, September 3rd. Finally, Barclays lifted their target price on Snowflake from $332.00 to $384.00 and gave the company an “equal weight” rating in a research note on Thursday, September 3rd. Thirty-six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $413.87.

Insider Activity at Snowflake

In other news, CAO Emily Ho sold 768 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $332.93, for a total value of $255,690.24. Following the transaction, the chief accounting officer owned 39,958 shares of the company’s stock, valued at $13,303,216.94. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Beaulier sold 755 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $336.36, for a total value of $253,951.80. Following the completion of the transaction, the executive owned 211,619 shares in the company, valued at $71,180,166.84. This represents a 0.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 956,744 shares of company stock worth $316,741,285. 4.80% of the stock is owned by company insiders.

Snowflake Trading Up 3.2%

Shares of SNOW traded up $9.77 on Monday, reaching $316.61. 2,846,982 shares of the company’s stock were exchanged, compared to its average volume of 6,484,383. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $111.70 billion, a P/E ratio of -99.40 and a beta of 1.35. The business has a 50 day moving average price of $333.25 and a two-hundred day moving average price of $255.61. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $384.56.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. Research analysts anticipate that Snowflake Inc. will post -1.44 earnings per share for the current year.

Snowflake Company Profile

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.