Harbor Capital Advisors Inc. Has $393,000 Holdings in Snowflake Inc. (NYSE:SNOW)

Harbor Capital Advisors Inc. trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 54.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,421 shares of the company’s stock after selling 4,110 shares during the period. Harbor Capital Advisors Inc.’s holdings in Snowflake were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNOW. Swedbank AB bought a new position in Snowflake during the first quarter worth about $258,957,000. AQR Capital Management LLC boosted its stake in shares of Snowflake by 210.0% during the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares during the period. SG Americas Securities LLC increased its holdings in shares of Snowflake by 471.9% during the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after acquiring an additional 628,511 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after acquiring an additional 600,469 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Snowflake by 12,318.3% in the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after acquiring an additional 526,608 shares during the period. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Canaccord Genuity Group decreased their price target on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. JMP Securities cut their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. TD Cowen reduced their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.17.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Christian Kleinerman sold 3,029 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $346,487.31. Following the completion of the sale, the executive vice president now directly owns 753,464 shares of the company’s stock, valued at $86,188,746.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,538 shares of company stock valued at $7,061,544. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $123.49 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The stock has a 50 day simple moving average of $114.83 and a two-hundred day simple moving average of $129.88. The company has a market cap of $41.39 billion, a P/E ratio of -40.36 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.52) EPS. On average, research analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current year.

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.