Vontobel Holding Ltd. Purchases 1,047 Shares of Snowflake Inc. (NYSE:SNOW)

Vontobel Holding Ltd. boosted its position in Snowflake Inc. (NYSE:SNOW) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,705 shares of the company’s stock after acquiring an additional 1,047 shares during the period. Vontobel Holding Ltd.’s holdings in Snowflake were worth $6,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Snowflake by 1.4% during the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after acquiring an additional 297,428 shares in the last quarter. Jennison Associates LLC raised its holdings in Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after purchasing an additional 249,249 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after purchasing an additional 223,936 shares during the period. Swedbank AB purchased a new position in shares of Snowflake during the first quarter valued at about $258,957,000. Finally, Bank of New York Mellon Corp raised its stake in Snowflake by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after buying an additional 8,743 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SNOW shares. Wells Fargo & Company reduced their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $165.00 target price on shares of Snowflake in a report on Thursday, August 22nd. UBS Group decreased their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Finally, Barclays lowered their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

Snowflake Stock Up 0.1 %

Shares of NYSE:SNOW opened at $119.02 on Friday. The stock has a market capitalization of $39.85 billion, a PE ratio of -42.51 and a beta of 0.83. The firm’s 50 day moving average price is $116.75 and its 200-day moving average price is $133.60. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the firm earned ($0.52) earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,538 shares of company stock valued at $7,049,994. 7.80% of the stock is owned by company insiders.

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.