Ieq Capital LLC Sells 35,951 Shares of Snowflake Inc. $SNOW

Ieq Capital LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,154,288 shares of the company’s stock after selling 35,951 shares during the period. Snowflake makes up 0.8% of Ieq Capital LLC’s holdings, making the stock its 16th biggest holding. Ieq Capital LLC’s holdings in Snowflake were worth $253,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Snowflake by 3.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,609,886 shares of the company’s stock worth $572,505,000 after acquiring an additional 80,779 shares in the last quarter. Banco Santander S.A. increased its position in shares of Snowflake by 281.2% during the fourth quarter. Banco Santander S.A. now owns 67,292 shares of the company’s stock worth $14,761,000 after acquiring an additional 49,640 shares in the last quarter. Keystone Investors PTE Ltd. increased its position in shares of Snowflake by 85.0% during the fourth quarter. Keystone Investors PTE Ltd. now owns 41,871 shares of the company’s stock worth $9,185,000 after acquiring an additional 19,236 shares in the last quarter. Wealthspire Advisors LLC increased its position in shares of Snowflake by 0.8% during the fourth quarter. Wealthspire Advisors LLC now owns 9,501 shares of the company’s stock worth $2,084,000 after acquiring an additional 79 shares in the last quarter. Finally, Allianz SE increased its position in shares of Snowflake by 195.9% during the fourth quarter. Allianz SE now owns 3,077 shares of the company’s stock worth $675,000 after acquiring an additional 2,037 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Down 3.3%

Shares of SNOW stock opened at $232.38 on Friday. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50-day simple moving average of $173.64 and a two-hundred day simple moving average of $190.21. The company has a market capitalization of $80.54 billion, a price-to-earnings ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. Research analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SNOW shares. Mizuho upped their price objective on shares of Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Monness Crespi & Hardt upped their price objective on shares of Snowflake from $282.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Benchmark upped their price objective on shares of Snowflake from $200.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wells Fargo & Company upped their price objective on shares of Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Rosenblatt Securities upped their price objective on shares of Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $291.77.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the transaction, the director directly owned 8,801 shares in the company, valued at $2,200,250. The trade was a 91.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 437,076 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the completion of the transaction, the director owned 38,046 shares in the company, valued at approximately $9,603,951.78. The trade was a 91.99% 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. Insiders have sold a total of 1,589,550 shares of company stock worth $359,438,410 over the last three months. 4.80% of the stock is currently owned by insiders.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.