Harel Insurance Investments & Financial Services Ltd. Has $176.74 Million Holdings in Snowflake Inc. $SNOW

Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 76.9% during the first quarter, Holdings Channel reports. The fund owned 1,171,833 shares of the company’s stock after purchasing an additional 509,230 shares during the period. Snowflake makes up about 1.2% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 28th biggest position. Harel Insurance Investments & Financial Services Ltd.’s holdings in Snowflake were worth $176,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. NFSG Corp boosted its stake in Snowflake by 34.5% in the first quarter. NFSG Corp now owns 41,718 shares of the company’s stock worth $6,292,000 after purchasing an additional 10,696 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new stake in shares of Snowflake in the first quarter valued at $5,882,000. Zweig DiMenna Associates LLC bought a new position in shares of Snowflake in the first quarter valued at about $5,972,000. ABC Arbitrage SA bought a new position in shares of Snowflake in the first quarter valued at about $219,000. Finally, Emerald Advisers LLC lifted its position in Snowflake by 95.2% during the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of SNOW stock opened at $276.21 on Wednesday. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. The stock has a market cap of $95.73 billion, a PE ratio of -78.47 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day moving average price is $220.12 and its two-hundred day moving average price is $192.44.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. The company 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 business’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, analysts forecast that Snowflake Inc. will post -1.84 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on SNOW shares. Sanford C. Bernstein increased their price objective on shares of Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, May 28th. Stifel Nicolaus boosted their target price on shares of Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. TD Cowen reiterated a “buy” rating and set a $300.00 target price on shares of Snowflake in a research report on Wednesday, June 3rd. Oppenheimer increased their price target on shares of Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $325.00 price target on shares of Snowflake in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $293.53.

Insider Transactions at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the transaction, the director owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. This represents a 91.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 437,076 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68. Following the transaction, the director owned 38,046 shares in the company, valued at approximately $9,603,951.78. This trade represents a 91.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,802,015 shares of company stock worth $421,739,629 in the last three months. Insiders own 4.80% of the company’s stock.

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.