Snowflake Inc. (NYSE:SNOW) Stake Increased by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 85.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 435 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Snowflake were worth $67,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Groupama Asset Managment bought a new stake in Snowflake during the third quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in Snowflake during the third quarter valued at $30,000. Fortitude Family Office LLC bought a new stake in Snowflake during the third quarter valued at $34,000. Perkins Coie Trust Co increased its stake in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Snowflake by 81.3% during the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. TD Cowen upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wedbush lowered shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. Finally, Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. This represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at $30,268,555. This represents a 33.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

SNOW stock opened at $177.54 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The firm has a market capitalization of $58.61 billion, a PE ratio of -52.37 and a beta of 1.05. The firm has a 50-day moving average of $163.02 and a two-hundred day moving average of $135.33.

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.