KBC Group NV Trims Stock Holdings in Snowflake Inc. $SNOW

KBC Group NV lowered its stake in Snowflake Inc. (NYSE:SNOW) by 75.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,285 shares of the company’s stock after selling 299,746 shares during the quarter. KBC Group NV’s holdings in Snowflake were worth $14,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its holdings in Snowflake by 10.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock worth $120,000 after acquiring an additional 50 shares in the last quarter. HHM Wealth Advisors LLC lifted its holdings in Snowflake by 50.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. United Asset Strategies Inc. boosted its position in shares of Snowflake by 1.4% in the fourth quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock worth $777,000 after purchasing an additional 50 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares during the period. Finally, ORG Partners LLC increased its stake in shares of Snowflake by 3.3% in the fourth quarter. ORG Partners LLC now owns 1,796 shares of the company’s stock worth $394,000 after purchasing an additional 58 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on SNOW. Needham & Company LLC raised their price objective on shares of Snowflake from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Monness Crespi & Hardt upped their target price on shares of Snowflake from $282.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Raymond James Financial reiterated an “outperform” rating and issued a $275.00 price target on shares of Snowflake in a research note on Thursday, May 28th. BTIG Research raised their price target on Snowflake from $280.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Evercore set a $200.00 price objective on Snowflake in a research report on Tuesday, April 14th. Thirty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.27.

Insiders Place Their Bets

In other Snowflake news, Director Teresa Briggs sold 343 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $255.11, for a total transaction of $87,502.73. Following the completion of the transaction, the director owned 5,060 shares of the company’s stock, valued at $1,290,856.60. This represents a 6.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Emily Ho sold 1,860 shares of Snowflake stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $232.25, for a total value of $431,985.00. Following the completion of the sale, the chief accounting officer directly owned 41,283 shares in the company, valued at $9,587,976.75. This trade represents a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,802,015 shares of company stock worth $421,739,629. 4.80% of the stock is owned by corporate insiders.

Snowflake Trading Down 1.2%

Snowflake stock opened at $270.92 on Wednesday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The firm’s 50 day moving average price is $232.28 and its 200-day moving average price is $194.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $93.90 billion, a P/E ratio of -76.97 and a beta of 1.35.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. Snowflake’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. On average, equities analysts predict that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

Snowflake 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.