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

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

A number of other hedge funds have also modified their holdings of SNOW. Jennison Associates LLC lifted its stake in 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 in the last quarter. State Street Corp raised its holdings in shares of Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company's stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock worth $475,894,000 after purchasing an additional 138,663 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock worth $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Snowflake by 2.7% in the third 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 purchasing an additional 51,366 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

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Snowflake Price Performance

Snowflake stock traded down $0.31 during mid-day trading on Tuesday, reaching $162.86. 3,375,037 shares of the company were exchanged, compared to its average volume of 6,330,792. The firm has a market cap of $53.76 billion, a PE ratio of -48.04 and a beta of 1.07. 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 company has a fifty day simple moving average of $172.76 and a 200-day simple moving average of $150.25. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 7,908 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the sale, the executive vice president now owns 600,632 shares in the company, valued at approximately $92,899,751.44. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the transaction, the executive now directly owns 311,999 shares in the company, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,968 shares of company stock valued at $50,900,550. 7.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several analyst reports. Barclays boosted their price target on shares of Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Wells Fargo & Company increased their price target on Snowflake from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Truist Financial reaffirmed a "buy" rating and set a $225.00 price target (up previously from $210.00) on shares of Snowflake in a research report on Thursday, February 27th. Loop Capital increased their price objective on Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Needham & Company LLC raised their target price on shares of Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.