Harvard Management Co. Inc. Purchases New Stake in Snowflake Inc. (NYSE:SNOW)

Harvard Management Co. Inc. acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,973 shares of the company’s stock, valued at approximately $2,036,000. Snowflake comprises approximately 0.1% of Harvard Management Co. Inc.’s holdings, making the stock its 14th largest holding.

Several other large investors also recently added to or reduced their stakes in SNOW. Modus Advisors LLC increased its holdings in shares of Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares during the last quarter. Catalyst Private Wealth LLC increased its stake in Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after acquiring an additional 104 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Snowflake by 30.3% in the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after purchasing an additional 108 shares during the period. LRI Investments LLC lifted its stake in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Finally, Hoylecohen LLC grew its holdings in shares of Snowflake by 2.7% during the 2nd quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock worth $589,000 after purchasing an additional 115 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays boosted their price objective on shares of Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Piper Sandler reissued an “overweight” rating and issued a $185.00 price target (up from $165.00) on shares of Snowflake in a research note on Thursday, November 21st. Argus assumed coverage on shares of Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. UBS Group cut their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, TD Cowen raised their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.09.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 204,661 shares of company stock valued at $32,004,752. 7.80% of the stock is currently owned by insiders.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $174.83 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The firm 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 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.