Snowflake Inc. (NYSE:SNOW) Position Trimmed by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 38.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,091 shares of the company’s stock after selling 1,330 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Snowflake were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Snowflake by 4.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 23,571 shares of the company’s stock valued at $3,184,000 after acquiring an additional 1,085 shares in the last quarter. Plato Investment Management Ltd grew its stake in Snowflake by 107.6% in the second quarter. Plato Investment Management Ltd now owns 467 shares of the company’s stock valued at $63,000 after purchasing an additional 242 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Snowflake by 26.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock worth $36,332,000 after purchasing an additional 56,027 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Snowflake by 29.2% during the 2nd quarter. Renaissance Technologies LLC now owns 624,502 shares of the company’s stock worth $84,364,000 after purchasing an additional 141,300 shares in the last quarter. Finally, Andar Capital Management HK Ltd acquired a new stake in shares of Snowflake during the 2nd quarter valued at about $1,891,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,904 shares of company stock valued at $62,545,855 in the last ninety days. Insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SNOW shares. Piper Sandler increased their price objective on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Mizuho raised their price target on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. KeyCorp raised their target price on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Evercore ISI upped their price target on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.69.

Snowflake Stock Performance

Snowflake stock opened at $163.40 on Wednesday. The stock has a fifty day moving average price of $158.33 and a two-hundred day moving average price of $134.37. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The firm has a market capitalization of $53.94 billion, a P/E ratio of -48.20 and a beta of 1.05.

About Snowflake

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.