Fideuram Intesa Sanpaolo Private Banking S.P.A. Reduces Holdings in Snowflake Inc. $SNOW

Fideuram Intesa Sanpaolo Private Banking S.P.A. lowered its position in Snowflake Inc. (NYSE:SNOW) by 8.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 25,359 shares of the company’s stock after selling 2,243 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Snowflake were worth $3,825,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new position in Snowflake in the fourth quarter worth about $28,000. Greenline Wealth Management LLC bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $29,000. GoalVest Advisory LLC raised its position in shares of Snowflake by 221.4% during the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. raised its position in shares of Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after acquiring an additional 51 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in Snowflake during the fourth quarter worth $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of NYSE SNOW opened at $259.67 on Friday. The stock has a market cap of $90.00 billion, a P/E ratio of -73.77 and a beta of 1.35. The firm’s 50-day simple moving average is $202.78 and its 200 day simple moving average is $190.46. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating 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 was up 33.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. Equities analysts expect that Snowflake Inc. will post -1.87 EPS for the current year.

Insider Buying and Selling

In other news, CRO Jonathan Mead Beaulier sold 9,367 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $231.98, for a total transaction of $2,172,956.66. Following the completion of the sale, the executive owned 234,791 shares in the company, valued at approximately $54,466,816.18. This represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Christian Kleinerman sold 2,621 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $228.45, for a total value of $598,767.45. Following the sale, the executive vice president directly owned 400,379 shares of the company’s stock, valued at approximately $91,466,582.55. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 1,798,828 shares of company stock worth $415,351,838. Company insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Snowflake from $210.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Evercore set a $200.00 target price on shares of Snowflake in a report on Tuesday, April 14th. JPMorgan Chase & Co. lifted their target price on Snowflake from $245.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. The Goldman Sachs Group upped their target price on Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Stifel Nicolaus upped their target price on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $293.53.

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.