Harel Insurance Investments & Financial Services Ltd. Has $512,000 Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Harel Insurance Investments & Financial Services Ltd. increased its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 1,498.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,501 shares of the company's stock after acquiring an additional 3,282 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Snowflake were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SNOW. Quarry LP lifted its stake in shares of Snowflake by 9.8% in the 4th quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after purchasing an additional 59 shares during the period. Gabelli Funds LLC increased its holdings in Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after purchasing an additional 65 shares in the last quarter. Archford Capital Strategies LLC lifted its stake in Snowflake by 1.9% in the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after buying an additional 68 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Snowflake by 0.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock worth $2,077,000 after buying an additional 69 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Snowflake by 21.8% during the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock worth $64,000 after buying an additional 74 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the sale, the chief financial officer owned 292,610 shares of the company's stock, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Burton sold 20,789 shares of Snowflake stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $200.00, for a total transaction of $4,157,800.00. Following the completion of the transaction, the director directly owned 7,428 shares in the company, valued at approximately $1,485,600. The trade was a 73.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,876,557 shares of company stock worth $403,565,119. 6.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. CICC Research started coverage on shares of Snowflake in a research report on Friday, June 20th. They set an "outperform" rating and a $225.00 target price on the stock. Mizuho raised their target price on Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Macquarie boosted their target price on Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada increased their price target on Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Robert W. Baird boosted their price objective on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average target price of $225.36.

Snowflake Trading Up 1.7%

SNOW stock opened at $221.13 on Friday. The company has a market capitalization of $73.83 billion, a PE ratio of -52.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. Snowflake Inc. has a one year low of $107.13 and a one year high of $225.68. The company's 50 day moving average price is $197.86 and its two-hundred day moving average price is $175.10.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.

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