Harvest Fund Management Co. Ltd Buys Shares of 5,667 Snowflake Inc. (NYSE:SNOW)

Harvest Fund Management Co. Ltd bought a new stake in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, HoldingsChannel.com reports. The firm bought 5,667 shares of the company’s stock, valued at approximately $875,000.

A number of other large investors have also recently modified their holdings of the business. Jennison Associates LLC lifted its stake in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. State Street Corp lifted its stake in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after acquiring an additional 54,909 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after acquiring an additional 138,663 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Snowflake by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock valued at $222,344,000 after acquiring an additional 51,366 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 685 shares of the company’s 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 directly owns 622,611 shares of the company’s stock, valued at $91,673,243.64. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’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 value of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 298,429 shares of company stock valued at $50,065,812. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW opened at $157.23 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a 50 day moving average price of $172.83 and a two-hundred day moving average price of $149.04. The firm has a market capitalization of $51.90 billion, a P/E ratio of -46.38 and a beta of 1.07. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40.

Analyst Ratings Changes

A number of brokerages have recently commented on SNOW. Scotiabank increased their price target on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Monness Crespi & Hardt increased their price target on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Mizuho raised their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Barclays raised their target price on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Oppenheimer raised their target price on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.08.

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.