Groupe la Francaise Buys 13,800 Shares of Snowflake Inc. $SNOW

Groupe la Francaise increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 55,200.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 13,825 shares of the company’s stock after acquiring an additional 13,800 shares during the period. Groupe la Francaise’s holdings in Snowflake were worth $3,080,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Vanguard Group Inc. grew its holdings in Snowflake by 2.2% during the second quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock valued at $6,218,515,000 after purchasing an additional 595,553 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snowflake during the 2nd quarter worth $3,900,134,000. Jennison Associates LLC grew its stake in Snowflake by 20.5% in the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after buying an additional 1,363,389 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in Snowflake by 15.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock worth $1,108,045,000 after acquiring an additional 652,485 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after acquiring an additional 763,673 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $224.85, for a total value of $11,318,499.30. Following the completion of the transaction, the director owned 35,276 shares of the company’s stock, valued at $7,931,808.60. This represents a 58.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 7,551 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the transaction, the director owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This represents a 4.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 221,305 shares of company stock worth $53,086,099. Corporate insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW stock opened at $265.34 on Thursday. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The company has a market capitalization of $89.90 billion, a P/E ratio of -63.94 and a beta of 1.09. The stock has a 50 day moving average of $250.99 and a two-hundred day moving average of $225.85. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company posted $0.20 earnings per share. Snowflake’s revenue was up 28.7% on a year-over-year basis. As a group, equities analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analyst Weigh In

SNOW has been the topic of several research analyst reports. Sanford C. Bernstein raised their price target on Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. UBS Group increased their target price on Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Robert W. Baird raised their target price on Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a report on Wednesday, November 26th. Finally, Oppenheimer reissued an “outperform” rating on shares of Snowflake in a research report on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $270.31.

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.