Banque Pictet & Cie SA Sells 7,530 Shares of Snowflake Inc. (NYSE:SNOW)

Banque Pictet & Cie SA decreased its position in Snowflake Inc. (NYSE:SNOW) by 34.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,160 shares of the company’s stock after selling 7,530 shares during the quarter. Banque Pictet & Cie SA’s holdings in Snowflake were worth $3,424,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. boosted its position in Snowflake by 2.3% during the second quarter. Great Valley Advisor Group Inc. now owns 1,876 shares of the company’s stock worth $446,000 after purchasing an additional 42 shares during the period. Douglass Winthrop Advisors LLC boosted its position in Snowflake by 3.8% during the second quarter. Douglass Winthrop Advisors LLC now owns 1,220 shares of the company’s stock worth $295,000 after purchasing an additional 45 shares during the period. Arkadios Wealth Advisors boosted its position in Snowflake by 12.5% during the second quarter. Arkadios Wealth Advisors now owns 450 shares of the company’s stock worth $108,000 after purchasing an additional 50 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Snowflake by 3.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 1,492 shares of the company’s stock worth $342,000 after purchasing an additional 52 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in Snowflake by 100.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 120 shares of the company’s stock worth $27,000 after purchasing an additional 60 shares during the period. 62.41% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on SNOW. The Goldman Sachs Group increased their price objective on Snowflake from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Monness Crespi & Hardt began coverage on Snowflake in a research report on Monday, July 12th. They issued a “neutral” rating and a $264.63 price objective for the company. Loop Capital increased their price objective on Snowflake from $250.00 to $295.00 and gave the company a “hold” rating in a research report on Thursday, August 26th. FBN Securities increased their price objective on Snowflake from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, August 26th. Finally, Piper Sandler increased their price objective on Snowflake from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $300.41.

NYSE SNOW opened at $316.47 on Monday. The stock’s 50-day moving average is $290.79 and its 200-day moving average is $253.92. Snowflake Inc. has a one year low of $184.71 and a one year high of $429.00. The firm has a market cap of $95.23 billion and a P/E ratio of -103.76.

Snowflake (NYSE:SNOW) last announced its earnings results on Tuesday, August 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.11. The business had revenue of $272.20 million for the quarter, compared to analyst estimates of $256.74 million. Snowflake had a negative return on equity of 15.26% and a negative net margin of 89.38%. The company’s quarterly revenue was up 104.5% on a year-over-year basis. As a group, analysts anticipate that Snowflake Inc. will post -2.11 EPS for the current fiscal year.

In other news, CRO Christopher William Degnan sold 25,563 shares of the company’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $238.49, for a total transaction of $6,096,519.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dennis Mcmahon sold 18,512 shares of the company’s stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $235.05, for a total value of $4,351,245.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,000,431 shares of company stock valued at $290,694,979 over the last quarter. 11.30% of the stock is currently owned by corporate insiders.

About Snowflake

Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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