Axa S.A. Sells 3,743 Shares of Snowflake Inc. $SNOW

Axa S.A. cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,233 shares of the company’s stock after selling 3,743 shares during the quarter. Axa S.A. owned approximately 0.07% of Snowflake worth $55,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of SNOW. Goldstream Capital Management Ltd bought a new position in Snowflake in the 2nd quarter worth approximately $3,801,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in Snowflake during the 2nd quarter valued at $1,142,000. State Street Corp lifted its position in shares of Snowflake by 1.4% during the second quarter. State Street Corp now owns 6,887,073 shares of the company’s stock worth $1,541,120,000 after acquiring an additional 94,293 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Snowflake by 31.8% in the second quarter. Daiwa Securities Group Inc. now owns 73,198 shares of the company’s stock worth $16,380,000 after acquiring an additional 17,673 shares during the period. Finally, Certuity LLC purchased a new position in shares of Snowflake in the second quarter valued at $201,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SNOW shares. Rosenblatt Securities increased their price objective on Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Stifel Nicolaus increased their price target on shares of Snowflake from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Macquarie upped their target price on shares of Snowflake from $235.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Finally, Truist Financial increased their target price on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $274.78.

Insider Buying and Selling at Snowflake

In other news, 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 directly owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares in the company, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 218,819 shares of company stock worth $52,823,885 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $222.98 on Wednesday. The stock’s 50-day moving average is $251.27 and its 200 day moving average is $227.19. The stock has a market cap of $75.55 billion, a price-to-earnings ratio of -55.19 and a beta of 1.09. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The company has a current ratio of 1.37, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last issued its quarterly 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. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period last year, the business earned $0.20 earnings per share. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.