Bailard Inc. Raises Stock Position in Snowflake Inc. (NYSE:SNOW)

Bailard Inc. increased its position in Snowflake Inc. (NYSE:SNOW) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,581 shares of the company’s stock after acquiring an additional 365 shares during the quarter. Bailard Inc.’s holdings in Snowflake were worth $2,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Snowflake by 8.1% during the 4th 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 period. Atria Wealth Solutions Inc. boosted its position in shares of Snowflake by 61.4% in 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 raised its position in shares of Snowflake by 3.7% during the 4th quarter. Hartline Investment Corp now owns 74,133 shares of the company’s stock worth $14,752,000 after purchasing an additional 2,656 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in Snowflake by 300.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 288 shares of the company’s stock worth $57,000 after buying an additional 216 shares in the last quarter. Finally, F M Investments LLC bought a new stake in shares of Snowflake during the 4th quarter worth $1,767,000. 65.10% of the stock is currently owned by institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.25, for a total value of $1,330,468.75. Following the sale, the insider now owns 55,216 shares in the company, valued at $8,627,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Benoit Dageville sold 8,515 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total value of $1,330,468.75. Following the transaction, the insider now owns 55,216 shares in the company, valued at $8,627,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Christopher William Degnan sold 12,533 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were 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. Over the last ninety days, insiders have sold 168,209 shares of company stock valued at $34,291,592. 8.30% of the stock is currently owned by company insiders.

Snowflake Stock Performance

NYSE SNOW traded up $6.69 on Friday, reaching $159.19. The company had a trading volume of 1,856,686 shares, compared to its average volume of 6,469,512. The company’s fifty day moving average is $171.35 and its 200-day moving average is $178.97. Snowflake Inc. has a 1-year low of $138.40 and a 1-year 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 announced its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. On average, research analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SNOW shares. Evercore ISI cut their price objective on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Redburn Atlantic reaffirmed a “sell” rating and issued a $125.00 price target (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. HSBC reaffirmed a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. UBS Group lifted their target price on Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, JMP Securities lifted their target price on Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.00.

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.