AG2R LA Mondiale Gestion D Actifs Makes New $1.69 Million Investment in Snowflake Inc. $SNOW

AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,588 shares of the company’s stock, valued at approximately $1,694,000.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Snowflake during the first quarter worth about $26,000. CVA Family Office LLC raised its stake 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 during the period. Spurstone Advisory Services LLC purchased a new position in Snowflake during the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new position in Snowflake during the fourth quarter worth about $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in Snowflake during the fourth quarter worth about $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $224.84, for a total transaction of $90,610.52. Following the sale, the director directly owned 25,733 shares of the company’s stock, valued at $5,785,807.72. This represents a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 1,938 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $223.86, for a total transaction of $433,840.68. Following the sale, the director directly owned 162,737 shares in the company, valued at approximately $36,430,304.82. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,224,389 shares of company stock valued at $719,812,350 in the last ninety days. Company insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $221.17 on Friday. Snowflake Inc. has a fifty-two week low of $108.71 and a fifty-two week high of $249.99. The firm’s 50 day moving average price is $212.83 and its 200 day moving average price is $188.94. The company has a market cap of $73.84 billion, a P/E ratio of -53.29 and a beta of 1.22. The company has a quick ratio of 1.58, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNOW has been the topic of a number of analyst reports. Sanford C. Bernstein lifted their target price on shares of Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. UBS Group boosted their price target on shares of Snowflake from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Citigroup reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, August 28th. Finally, Scotiabank boosted their price target on shares of Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.53.

About Snowflake

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.