Vontobel Holding Ltd. Has $4.56 Million Holdings in Snowflake Inc. $SNOW

Vontobel Holding Ltd. reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 70.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,222 shares of the company’s stock after selling 48,296 shares during the period. Vontobel Holding Ltd.’s holdings in Snowflake were worth $4,561,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new stake in Snowflake during the 2nd quarter worth about $25,000. Avion Wealth grew its position 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 buying an additional 49 shares during the period. Rossby Financial LCC increased its stake in Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. increased its position in shares of Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after buying an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its stake 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 acquiring an additional 121 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Performance

Shares of SNOW stock opened at $221.63 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The business’s 50 day simple moving average is $246.24 and its 200 day simple moving average is $228.05. The stock has a market capitalization of $75.84 billion, a PE ratio of -54.86 and a beta of 1.09.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company posted $0.20 earnings per share. Snowflake’s revenue for the quarter was up 28.7% compared to the same quarter last year. As a group, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Ratings Changes

SNOW has been the topic of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and set a $312.00 price target on shares of Snowflake in a research report on Thursday, December 4th. DA Davidson restated a “buy” rating and issued a $300.00 price objective on shares of Snowflake in a report on Monday, December 1st. Rosenblatt Securities upped their price objective on Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Evercore ISI lifted their price target on Snowflake from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Finally, Morgan Stanley increased their target price on Snowflake from $272.00 to $299.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $275.32.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $230.65, for a total value of $92,951.95. Following the transaction, the director directly owned 24,524 shares of the company’s stock, valued at approximately $5,656,460.60. The trade was a 1.62% 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, Director Frank Slootman sold 200,000 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $221.83, for a total value of $44,366,000.00. Following the transaction, the director owned 50,329 shares in the company, valued at $11,164,482.07. The trade was a 79.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 423,681 shares of company stock valued at $98,164,051. Company insiders own 6.80% of the company’s stock.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.