Harbour Investments Inc. Has $461,000 Stock Position in Snowflake Inc. (NYSE:SNOW)

Harbour Investments Inc. decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,014 shares of the company’s stock after selling 266 shares during the period. Harbour Investments Inc.’s holdings in Snowflake were worth $461,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC boosted its position in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new stake in Snowflake during the 2nd quarter worth $27,000. V Square Quantitative Management LLC acquired a new position in Snowflake in the 3rd quarter worth about $30,000. Fortitude Family Office LLC bought a new position in Snowflake in the third quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake during the second quarter valued at about $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 2.6 %

SNOW stock opened at $125.96 on Friday. The firm has a market capitalization of $42.22 billion, a PE ratio of -41.16 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The stock’s 50 day moving average is $116.73 and its 200-day moving average is $128.50.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period in the previous year, the firm earned ($0.52) EPS. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, equities research analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares of the company’s stock, valued at $86,610,600. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,538 shares of company stock worth $7,061,544. Insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNOW. Wells Fargo & Company dropped their price objective on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Needham & Company LLC cut their price target on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Monness Crespi & Hardt upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, November 6th. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $172.09.

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.