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

Hsbc Holdings PLC grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 34.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 411,577 shares of the company's stock after purchasing an additional 104,627 shares during the period. Hsbc Holdings PLC owned approximately 0.12% of Snowflake worth $63,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SNOW. Prospect Financial Services LLC bought a new position in shares of Snowflake during the fourth quarter valued at $288,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after buying an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC bought a new stake in Snowflake during the fourth quarter worth about $5,851,000. Stephens Consulting LLC increased its holdings in shares of Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock worth $313,000 after buying an additional 2,000 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC raised its stake in shares of Snowflake by 40.1% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock valued at $2,458,000 after acquiring an additional 4,559 shares during the last quarter. Institutional investors own 65.10% of the company's stock.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company's stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 364,342 shares of company stock worth $59,978,513. Insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SNOW shares. Piper Sandler decreased their price target on Snowflake from $215.00 to $175.00 and set an "overweight" rating on the stock in a research report on Wednesday. Barclays raised their target price on Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. UBS Group increased their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Wedbush set a $210.00 target price on shares of Snowflake in a research report on Wednesday, January 22nd. Finally, BTIG Research raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target for the company in a report on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.27.

Snowflake Stock Down 0.3 %

SNOW stock traded down $0.40 during mid-day trading on Friday, reaching $158.26. The company had a trading volume of 4,161,157 shares, compared to its average volume of 6,426,335. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a market capitalization of $52.24 billion, a price-to-earnings ratio of -46.68 and a beta of 1.13. 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 stock has a 50 day simple moving average of $154.91 and a two-hundred day simple moving average of $156.06.

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.