Fosun International Ltd Has $498,000 Position in Snowflake Inc. (NYSE:SNOW)

Fosun International Ltd lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 27.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,500 shares of the company’s stock after selling 930 shares during the quarter. Fosun International Ltd’s holdings in Snowflake were worth $498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. Provence Wealth Management Group bought a new position in shares of Snowflake in the third quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Snowflake by 54.1% in the third 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 during the period. Global Wealth Management Investment Advisory Inc. raised its position in shares of Snowflake by 89.0% in the third 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 during the period. M&R Capital Management Inc. increased its position in Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after acquiring an additional 100 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now directly owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now directly owns 354,954 shares of the company’s stock, valued at $55,571,598.24. The disclosure for this sale can be found here. In the last three months, insiders sold 72,380 shares of company stock valued at $12,206,900. 8.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research reports. Rosenblatt Securities raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Friday, April 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 target price (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Royal Bank of Canada lowered their price target on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Mizuho reissued a “buy” rating and issued a $205.00 price target (down previously from $255.00) on shares of Snowflake in a report on Thursday, February 29th. Finally, Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $202.77.

Snowflake Trading Down 0.6 %

Shares of NYSE:SNOW traded down $0.90 during mid-day trading on Thursday, reaching $156.88. The stock had a trading volume of 488,031 shares, compared to its average volume of 6,206,808. The firm has a 50 day simple moving average of $160.35 and a two-hundred day simple moving average of $179.27. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72. The firm has a market cap of $52.43 billion, a PE ratio of -61.85 and a beta of 0.90.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The business had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. On average, equities analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

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.