Snowflake Inc. $SNOW Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 36.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,379 shares of the company’s stock after selling 9,360 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Snowflake were worth $3,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH purchased a new stake in Snowflake in the 2nd quarter valued at about $25,000. Avion Wealth lifted its holdings in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares during the period. Rossby Financial LCC boosted its position in shares of Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Whittier Trust Co. grew its holdings in Snowflake by 149.1% in the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the period. Finally, Golden State Wealth Management LLC grew its holdings in Snowflake by 417.2% in the second quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In related news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the sale, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $257.29, for a total transaction of $103,687.87. Following the completion of the transaction, the director directly owned 24,927 shares of the company’s stock, valued at approximately $6,413,467.83. The trade was a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 931,388 shares of company stock valued at $216,578,628. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $257.40 on Friday. The business’s 50-day simple moving average is $244.05 and its 200 day simple moving average is $218.84. The company has a market cap of $87.21 billion, a P/E ratio of -62.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. Snowflake’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. On average, sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on SNOW shares. Robert W. Baird increased their price target on shares of Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Citigroup reaffirmed a “market outperform” rating on shares of Snowflake in a research report on Tuesday, October 28th. Macquarie lifted their target price on Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Barclays boosted their price target on Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $259.89.

Snowflake Profile

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.