Oddo BHF Asset Management Sas Decreases Stock Holdings in Snowflake Inc. $SNOW

Oddo BHF Asset Management Sas trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW) by 33.7% in the 4th quarter, Holdings Channel reports. The firm owned 44,989 shares of the company’s stock after selling 22,914 shares during the period. Oddo BHF Asset Management Sas’ holdings in Snowflake were worth $9,869,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Temasek Holdings Private Ltd raised its holdings in shares of Snowflake by 96.6% during the fourth quarter. Temasek Holdings Private Ltd now owns 368,528 shares of the company’s stock valued at $80,840,000 after purchasing an additional 181,101 shares during the last quarter. L2 Asset Management LLC raised its holdings in shares of Snowflake by 14.7% during the fourth quarter. L2 Asset Management LLC now owns 1,582 shares of the company’s stock valued at $347,000 after purchasing an additional 203 shares during the last quarter. 71 West Capital Partners purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $1,142,000. Faithward Advisors LLC increased its holdings in Snowflake by 3.4% during the fourth quarter. Faithward Advisors LLC now owns 19,077 shares of the company’s stock valued at $4,185,000 after buying an additional 632 shares during the last quarter. Finally, Sienna Gestion purchased a new stake in Snowflake during the fourth quarter valued at approximately $1,326,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $240.61 on Tuesday. The firm has a fifty day moving average price of $175.41 and a 200-day moving average price of $189.78. 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 $83.40 billion, a PE ratio of -68.35 and a beta of 1.35. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) 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 analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share. Equities analysts anticipate that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Frank Slootman sold 162,924 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $263.70, for a total value of $42,963,058.80. Following the completion of the sale, the director directly owned 38,046 shares of the company’s stock, valued at $10,032,730.20. This represents a 81.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the sale, the director directly owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,578,690 shares of company stock valued at $357,534,217. 4.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SNOW has been the subject of a number of research reports. Rosenblatt Securities upped their target price on shares of Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Loop Capital upped their target price on shares of Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Scotiabank upped their target price on shares of Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Snowflake from $230.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Evercore set a $200.00 target price on shares of Snowflake in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $291.77.

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.