Snowflake Inc. (NYSE:SNOW) Shares Purchased by Bailard Inc.

Bailard Inc. boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,581 shares of the company’s stock after purchasing an additional 365 shares during the period. Bailard Inc.’s holdings in Snowflake were worth $2,106,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SNOW. Tokio Marine Asset Management Co. Ltd. increased its position in Snowflake by 8.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,937 shares of the company’s stock worth $1,380,000 after purchasing an additional 519 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in Snowflake by 61.4% during the fourth quarter. Atria Wealth Solutions Inc. now owns 14,215 shares of the company’s stock worth $2,829,000 after buying an additional 5,408 shares during the period. Hartline Investment Corp boosted its stake in Snowflake by 3.7% during the fourth quarter. Hartline Investment Corp now owns 74,133 shares of the company’s stock worth $14,752,000 after buying an additional 2,656 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in Snowflake by 300.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 288 shares of the company’s stock worth $57,000 after buying an additional 216 shares during the period. Finally, F M Investments LLC purchased a new position in Snowflake during the fourth quarter worth about $1,767,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE SNOW traded up $6.69 on Friday, hitting $159.19. 1,856,686 shares of the stock traded hands, compared to its average volume of 6,469,512. The business’s fifty day moving average is $171.35 and its two-hundred day moving average is $178.97. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72. The firm has a market capitalization of $53.20 billion, a price-to-earnings ratio of -59.80 and a beta of 0.91.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the subject of several recent research reports. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. HSBC reiterated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Evercore ISI cut their price objective on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Snowflake in a report on Tuesday, February 27th. Finally, Bank of America cut their target price on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $202.00.

Insiders Place Their Bets

In other Snowflake news, insider Benoit Dageville sold 689 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 689 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,533 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the completion of the transaction, the executive now owns 98,172 shares in the company, valued at approximately $19,638,326.88. The disclosure for this sale can be found here. Insiders sold a total of 168,209 shares of company stock valued at $34,291,592 over the last 90 days. Insiders own 8.30% of the company’s stock.

Snowflake Company 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.