Harbor Investment Advisory LLC Acquires 1,244 Shares of Snowflake Inc. (NYSE:SNOW)

Harbor Investment Advisory LLC lifted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 286.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,679 shares of the company's stock after purchasing an additional 1,244 shares during the quarter. Harbor Investment Advisory LLC's holdings in Snowflake were worth $245,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SNOW. Norges Bank acquired a new stake in Snowflake in the fourth quarter valued at $988,950,000. FMR LLC lifted its stake in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. GQG Partners LLC acquired a new stake in Snowflake in the fourth quarter valued at $750,572,000. Geode Capital Management LLC lifted its stake in Snowflake by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after acquiring an additional 15,314 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after purchasing an additional 2,200,406 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Trading Up 0.2%

NYSE:SNOW traded up $0.39 on Thursday, reaching $209.99. 5,229,333 shares of the stock traded hands, compared to its average volume of 6,404,524. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $214.83. The company's 50 day moving average is $166.87 and its 200-day moving average is $168.02. The firm has a market capitalization of $70.11 billion, a price-to-earnings ratio of -61.94 and a beta of 1.21.

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

Insiders Place Their Bets

In related news, Director Frank Slootman sold 7,016 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the transaction, the director now directly owns 182,999 shares of the company's stock, valued at approximately $28,491,114.31. This represents a 3.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares in the company, valued at approximately $91,673,243.64. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 849,779 shares of company stock worth $159,318,643. Company insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Truist Financial increased their price objective on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Daiwa America upgraded Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Finally, Bank of America increased their price objective on Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $221.28.

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.