Harvest Fund Management Co. Ltd Has $57,000 Holdings in Snowflake Inc. (NYSE:SNOW)

Harvest Fund Management Co. Ltd boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 300.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other large investors have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its stake in shares of Snowflake by 123.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 8,438 shares of the company’s stock valued at $1,289,000 after buying an additional 4,660 shares in the last quarter. UMB Bank n.a. increased its position in shares of Snowflake by 43.5% during the 3rd quarter. UMB Bank n.a. now owns 2,565 shares of the company’s stock worth $392,000 after purchasing an additional 778 shares in the last quarter. Gemmer Asset Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth about $3,999,000. Handelsbanken Fonder AB increased its position in shares of Snowflake by 1.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 60,612 shares of the company’s stock worth $9,260,000 after purchasing an additional 1,149 shares in the last quarter. Finally, Slow Capital Inc. increased its position in shares of Snowflake by 3.9% during the 3rd quarter. Slow Capital Inc. now owns 21,346 shares of the company’s stock worth $3,261,000 after purchasing an additional 798 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Frank Slootman sold 86,078 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total value of $19,378,740.14. Following the completion of the transaction, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sridhar Ramaswamy acquired 31,542 shares of Snowflake stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the transaction, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Frank Slootman sold 86,078 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the transaction, the chief executive officer now owns 180,143 shares in the company, valued at $40,555,593.59. The disclosure for this sale can be found here. Insiders have sold 168,209 shares of company stock worth $34,291,592 over the last ninety days. Insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of recent analyst reports. Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Oppenheimer decreased their price objective on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Rosenblatt Securities raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Friday, April 5th. Macquarie raised shares of Snowflake from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $182.00 to $205.00 in a report on Thursday, February 29th. Finally, Raymond James increased their price objective on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake Stock Up 4.5 %

NYSE SNOW opened at $159.39 on Friday. Snowflake Inc. has a 12-month low of $138.40 and a 12-month high of $237.72. The company has a market capitalization of $53.27 billion, a PE ratio of -59.80 and a beta of 0.91. 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 data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. As a group, sell-side analysts expect that Snowflake Inc. will post -1.9 EPS for the current year.

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.