Harvest Fund Management Co. Ltd Invests $875,000 in Snowflake Inc. (NYSE:SNOW)

Harvest Fund Management Co. Ltd bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,667 shares of the company’s stock, valued at approximately $875,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNOW. OneDigital Investment Advisors LLC raised its position in shares of Snowflake by 24.2% during the third quarter. OneDigital Investment Advisors LLC now owns 3,154 shares of the company’s stock worth $362,000 after acquiring an additional 614 shares during the last quarter. CIBC Asset Management Inc grew its stake in Snowflake by 4.9% in the third quarter. CIBC Asset Management Inc now owns 11,705 shares of the company’s stock valued at $1,344,000 after acquiring an additional 544 shares during the period. Empowered Funds LLC grew its stake in Snowflake by 8.8% in the third quarter. Empowered Funds LLC now owns 6,013 shares of the company’s stock valued at $691,000 after acquiring an additional 487 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Snowflake in the third quarter valued at about $1,292,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Snowflake during the third quarter worth about $146,000. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. TD Cowen upped their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a report on Thursday, February 20th. Piper Sandler upped their target price on Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, Royal Bank of Canada upped their target price on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.08.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 861 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $165.31, for a total transaction of $142,331.91. Following the sale, the executive vice president now owns 582,930 shares of the company’s stock, valued at $96,364,158.30. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 7,016 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total value of $1,092,321.04. Following the sale, the director now directly owns 182,999 shares in the company, valued at $28,491,114.31. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 298,429 shares of company stock valued at $50,065,812 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Snowflake Trading Up 0.8 %

Shares of NYSE:SNOW opened at $157.23 on Friday. The company 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 1 year low of $107.13 and a 1 year 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. The business’s 50 day simple moving average is $172.83 and its 200 day simple moving average is $149.04.

Snowflake Company 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.