Harbour Investments Inc. Sells 266 Shares of Snowflake Inc. (NYSE:SNOW)

Harbour Investments Inc. lowered its position in Snowflake Inc. (NYSE:SNOW) by 6.2% in 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 quarter. Harbour Investments Inc.’s holdings in Snowflake were worth $461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNOW. LRI Investments LLC purchased a new position in shares of Snowflake in the first quarter worth about $29,000. Wellington Shields Capital Management LLC purchased a new position in Snowflake in the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new stake in Snowflake during the 3rd quarter valued at $30,000. Global Financial Private Client LLC purchased a new stake in shares of Snowflake during the first quarter worth $44,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the second quarter worth $39,000. 65.10% of the stock is currently owned by institutional investors.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This trade represents a 3.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now owns 53,250 shares in the company, valued at $5,932,582.50. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Down 2.6 %

NYSE:SNOW opened at $125.96 on Friday. The firm has a market capitalization of $42.22 billion, a P/E ratio of -41.16 and a beta of 0.83. The company has a fifty day moving average of $116.73 and a 200 day moving average of $128.50. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share 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 company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period in the prior year, the business posted ($0.52) earnings per share. Snowflake’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

Analyst Ratings Changes

SNOW has been the topic of a number of recent research reports. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wedbush upgraded shares of Snowflake to a “hold” rating in a research report on Thursday, October 17th. Loop Capital decreased their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. UBS Group lowered their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Evercore ISI decreased their price target on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.