Handelsbanken Fonder AB Has $17.93 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Handelsbanken Fonder AB trimmed its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,665 shares of the company's stock after selling 3,131 shares during the period. Handelsbanken Fonder AB's holdings in Snowflake were worth $17,929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in Snowflake during the 4th quarter valued at $29,000. West Paces Advisors Inc. acquired a new position in Snowflake during the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake during the 4th quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new position in Snowflake during the 4th quarter valued at about $31,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in Snowflake during the 4th quarter valued at about $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 1,859 shares of Snowflake stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $209.96, for a total transaction of $390,315.64. Following the completion of the sale, the director now owns 180,229 shares of the company's stock, valued at $37,840,880.84. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 900,459 shares of company stock worth $170,184,739 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Up 1.1%

Snowflake stock traded up $2.27 during trading hours on Thursday, hitting $210.88. The company had a trading volume of 5,136,609 shares, compared to its average volume of 6,279,646. The firm has a market capitalization of $70.41 billion, a P/E ratio of -62.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm's fifty day moving average is $173.43 and its 200-day moving average is $170.25. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $214.83.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $0.14 EPS. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research analyst reports. Macquarie raised their target price on shares of Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Robert W. Baird increased their price target on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Cowen reaffirmed a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $215.00 price target (up from $175.00) on shares of Snowflake in a research note on Wednesday, May 21st. Finally, KeyCorp decreased their price target on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $222.81.

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.