J. Safra Sarasin Holding AG Lowers Holdings in Snowflake Inc. $SNOW

J. Safra Sarasin Holding AG decreased its position in Snowflake Inc. (NYSE:SNOW) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,065 shares of the company’s stock after selling 394 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Snowflake were worth $1,133,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC acquired a new stake in Snowflake in the first quarter valued at approximately $26,000. CVA Family Office LLC raised its holdings in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Snowflake by 748.0% during the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after purchasing an additional 187 shares in the last quarter. Tradewinds Capital Management LLC raised its holdings in Snowflake by 53.1% during the first quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock worth $36,000 after purchasing an additional 85 shares in the last quarter. Finally, CX Institutional acquired a new stake in Snowflake during the first quarter worth approximately $42,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the transaction, the executive vice president owned 527,336 shares of the company’s stock, valued at $123,132,956. The trade was a 1.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $221.47, for a total transaction of $11,148,356.86. Following the completion of the transaction, the director directly owned 36,956 shares of the company’s stock, valued at $8,184,645.32. The trade was a 57.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,601,630 shares of company stock worth $362,990,571. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a research report on Saturday, September 27th. Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Thursday, August 28th. Mizuho raised their target price on shares of Snowflake from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Finally, CICC Research initiated coverage on shares of Snowflake in a research report on Friday, June 20th. They set an “outperform” rating and a $225.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.53.

Snowflake Price Performance

Shares of NYSE SNOW opened at $235.42 on Friday. The firm has a market capitalization of $79.76 billion, a P/E ratio of -56.73 and a beta of 1.21. Snowflake Inc. has a one year low of $111.15 and a one year high of $249.99. The company’s fifty day moving average is $215.94 and its two-hundred day moving average is $195.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. Analysts forecast 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.