Hsbc Holdings PLC Has $63.60 Million Position in Snowflake Inc. (NYSE:SNOW)

Hsbc Holdings PLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 411,577 shares of the company's stock after acquiring an additional 104,627 shares during the quarter. Hsbc Holdings PLC owned 0.12% of Snowflake worth $63,599,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC increased its holdings in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. Norges Bank bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $988,950,000. FMR LLC raised its position in shares of Snowflake by 84.9% during the 4th 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 in the last quarter. GQG Partners LLC bought a new position in Snowflake during the fourth quarter worth $750,572,000. Finally, Geode Capital Management LLC lifted its stake in Snowflake by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after purchasing an additional 15,314 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Trading Down 1.7 %

NYSE SNOW traded down $2.73 on Wednesday, hitting $157.62. 1,133,365 shares of the stock were exchanged, compared to its average volume of 6,376,662. The company's 50-day moving average price is $153.86 and its two-hundred day moving average price is $156.33. The company has a market capitalization of $52.03 billion, a price-to-earnings ratio of -46.43 and a beta of 1.13. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Activity

In related news, CRO Christopher William Degnan sold 12,782 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the transaction, the executive now directly owns 308,164 shares of the company's stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 374,342 shares of company stock worth $61,578,513. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SNOW has been the topic of a number of research reports. Truist Financial dropped their target price on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Bank of America increased their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Wells Fargo & Company lowered their target price on Snowflake from $215.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, DA Davidson cut their price target on Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus price target of $200.27.

Snowflake 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.