Snowflake Inc. $SNOW Stock: Eurizon Capital SGR S.p.A. Grows Holdings

Eurizon Capital SGR S.p.A. boosted its stake in Snowflake Inc. (NYSE:SNOW) by 98.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,666 shares of the company’s stock after buying an additional 158,733 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Snowflake were worth $108,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Basecamp Wealth Advisors LLC boosted its holdings in Snowflake by 140.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after buying an additional 118 shares during the last quarter. Reyes Financial Architecture Inc. purchased a new stake in Snowflake during the 3rd quarter worth approximately $32,000. Mather Group LLC. raised its holdings in shares of Snowflake by 98.0% during the third quarter. Mather Group LLC. now owns 101 shares of the company’s stock valued at $34,000 after acquiring an additional 50 shares during the last quarter. Ninety One UK Ltd acquired a new position in shares of Snowflake during the third quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC lifted its position in shares of Snowflake by 146.7% in the third quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 66 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 300,000 shares of the business’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the transaction, the director owned 19,024 shares of the company’s stock, valued at approximately $6,019,764.32. The trade was a 94.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $306.01, for a total value of $3,060,100.00. Following the transaction, the executive vice president directly owned 303,738 shares in the company, valued at $92,946,865.38. This trade represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,186,443 shares of company stock valued at $387,734,752 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

Snowflake Stock Down 0.7%

SNOW stock opened at $299.01 on Friday. The company has a market cap of $105.49 billion, a price-to-earnings ratio of -94.03 and a beta of 1.32. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $384.56. The firm has a 50-day moving average of $326.01 and a two-hundred day moving average of $243.40.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on SNOW shares. UBS Group lifted their price target on Snowflake from $425.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Bank of America boosted their price target on Snowflake from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Monness Crespi & Hardt increased 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. Citigroup raised their price objective on Snowflake from $395.00 to $490.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Finally, Mizuho set a $425.00 price objective on Snowflake in a report on Thursday, September 3rd. Thirty-six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $413.87.

About Snowflake

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.