Harvest Fund Management Co. Ltd Buys 216 Shares of Snowflake Inc. (NYSE:SNOW)

Harvest Fund Management Co. Ltd grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 300.0% during the fourth quarter, HoldingsChannel reports. The firm owned 288 shares of the company’s stock after purchasing an additional 216 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Snowflake were worth $57,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SNOW. FMR LLC boosted its stake in Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC bought a new stake in Snowflake during the third quarter worth about $226,302,000. Vanguard Group Inc. boosted its stake in Snowflake by 4.0% during the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after acquiring an additional 743,211 shares in the last quarter. Wellington Management Group LLP raised its holdings in Snowflake by 69.9% in the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after buying an additional 623,277 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Snowflake by 19,321.5% in the fourth quarter. International Assets Investment Management LLC now owns 508,843 shares of the company’s stock worth $101,260,000 after buying an additional 506,223 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, insider Benoit Dageville sold 8,515 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the transaction, the insider now directly owns 55,216 shares in the company, valued at approximately $8,627,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CRO Christopher William Degnan sold 12,533 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $200.04, for a total value of $2,507,101.32. Following the sale, the executive now directly owns 98,172 shares in the company, valued at approximately $19,638,326.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now owns 55,216 shares in the company, valued at $8,627,500. The disclosure for this sale can be found here. Insiders have sold a total of 168,209 shares of company stock worth $34,291,592 in the last three months. Corporate insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Snowflake in a report on Tuesday, February 27th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 target price on shares of Snowflake in a report on Thursday, February 29th. Bank of America reduced their target price on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Redburn Atlantic reaffirmed a “sell” rating and set a $125.00 target price (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Finally, Barclays reduced their target price on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Price Performance

SNOW stock opened at $159.39 on Friday. The company has a market capitalization of $53.27 billion, a PE ratio of -59.80 and a beta of 0.91. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72. The firm’s 50-day moving average is $171.35 and its 200 day moving average is $178.97.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Sell-side analysts forecast 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.