Handelsbanken Fonder AB Has $19.21 Million Stake in Snowflake Inc. (NYSE:SNOW)

Handelsbanken Fonder AB boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 59.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,528 shares of the company’s stock after buying an additional 35,916 shares during the period. Handelsbanken Fonder AB’s holdings in Snowflake were worth $19,209,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ulland Investment Advisors LLC grew its stake in Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after buying an additional 135 shares in the last quarter. Provence Wealth Management Group acquired a new stake in shares of Snowflake in the 3rd quarter valued at approximately $30,000. M&R Capital Management Inc. boosted its stake in shares of Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after purchasing an additional 100 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Snowflake by 54.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 1.2 %

Snowflake stock opened at $147.21 on Tuesday. Snowflake Inc. has a 12-month low of $135.26 and a 12-month high of $237.72. The firm’s fifty day moving average is $176.10 and its 200 day moving average is $179.38.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $759.86 million. As a group, equities research analysts predict that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,100,000.00. Following the transaction, the senior vice president now owns 746,567 shares in the company, valued at $156,779,070. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Snowflake news, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares in the company, valued at $4,457,133.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,100,000.00. Following the transaction, the senior vice president now owns 746,567 shares in the company, valued at approximately $156,779,070. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,209 shares of company stock worth $36,391,592. Insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNOW shares. Royal Bank of Canada reduced their price target on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Rosenblatt Securities upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Friday, April 5th. HSBC restated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Redburn Atlantic reiterated a “sell” rating and set a $125.00 target price (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Finally, Macquarie upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

About Snowflake

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.