Harbor Advisors LLC Acquires 1,000 Shares of Snowflake Inc. (NYSE:SNOW)

Harbor Advisors LLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 25.0% during the third quarter, HoldingsChannel reports. The firm owned 5,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Harbor Advisors LLC’s holdings in Snowflake were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. LRI Investments LLC raised its holdings in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake in the second quarter valued at $27,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake during the 3rd quarter valued at $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake during the 3rd quarter worth $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Snowflake in the 2nd quarter worth about $39,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SNOW shares. Royal Bank of Canada upped their price objective on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Argus initiated coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Oppenheimer restated an “outperform” rating and set a $180.00 target price on shares of Snowflake in a research report on Thursday, November 21st. Wells Fargo & Company lifted their price target on Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group increased their price objective on Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $181.09.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 1,946 shares of the business’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 transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 264,278 shares of company stock worth $42,512,248. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $172.33 on Tuesday. The business has a 50-day moving average of $126.17 and a 200 day moving average of $128.27. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

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.