Snowflake Inc. $SNOW Stock Holdings Lowered by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 40.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,069 shares of the company’s stock after selling 712 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Snowflake were worth $239,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SNOW. Capital Advantage Inc. lifted its position in shares of Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of Snowflake by 1.3% in the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after acquiring an additional 48 shares during the last quarter. Avion Wealth raised its position in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the period. Advyzon Investment Management LLC lifted its holdings in shares of Snowflake by 3.8% during the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock valued at $340,000 after purchasing an additional 55 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Snowflake by 4.2% during the second quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock valued at $359,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 4.2%

Shares of NYSE:SNOW opened at $234.37 on Monday. The firm has a fifty day moving average of $246.37 and a two-hundred day moving average of $222.07. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The firm has a market capitalization of $79.40 billion, a P/E ratio of -56.47 and a beta of 1.23.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results 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 business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The firm’s revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. On average, equities analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $277.73, for a total value of $2,777,300.00. Following the transaction, the executive vice president directly owned 522,450 shares in the company, valued at approximately $145,100,038.50. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares in the company, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 931,388 shares of company stock valued at $216,578,628 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating on shares of Snowflake in a research note on Sunday. Wells Fargo & Company initiated coverage on shares of Snowflake in a report on Tuesday, September 30th. They issued an “overweight” rating and a $275.00 target price for the company. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, August 28th. Stifel Nicolaus upped their price target on shares of Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Mizuho raised their price objective on shares of Snowflake from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $266.42.

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.