Harvard Management Co. Inc. Buys Shares of 17,973 Snowflake Inc. (NYSE:SNOW)

Harvard Management Co. Inc. purchased a new position in Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,973 shares of the company’s stock, valued at approximately $2,036,000. Snowflake accounts for approximately 0.1% of Harvard Management Co. Inc.’s investment portfolio, making the stock its 14th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Consolidated Press International Holdings Ltd. boosted its position in Snowflake by 70.1% during the third quarter. Consolidated Press International Holdings Ltd. now owns 36,439 shares of the company’s stock valued at $4,185,000 after purchasing an additional 15,018 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock valued at $61,439,000 after buying an additional 333,500 shares in the last quarter. Twenty Acre Capital LP bought a new stake in shares of Snowflake in the 3rd quarter valued at about $5,444,000. Circle Wealth Management LLC grew its position in shares of Snowflake by 20.6% in the 3rd quarter. Circle Wealth Management LLC now owns 11,796 shares of the company’s stock worth $1,355,000 after buying an additional 2,014 shares during the last quarter. Finally, PDT Partners LLC raised its stake in shares of Snowflake by 160.6% during the 3rd quarter. PDT Partners LLC now owns 26,715 shares of the company’s stock worth $3,068,000 after acquiring an additional 16,465 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNOW. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Barclays increased their price target on Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Wedbush upgraded Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Monday, November 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Thursday, November 21st. Finally, Scotiabank dropped their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.09.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,661 shares of company stock valued at $32,004,752 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $174.83 on Friday. The stock has a market capitalization of $58.60 billion, a P/E ratio of -51.57 and a beta of 0.83. The company’s fifty day moving average price is $126.17 and its 200 day moving average price is $128.74. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

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.