Oak Harvest Investment Services Invests $2.37 Million in Snowflake Inc. (NYSE:SNOW)

Oak Harvest Investment Services acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,348 shares of the company’s stock, valued at approximately $2,370,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SNOW. Asset Dedication LLC lifted its stake in Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after acquiring an additional 59 shares during the period. Breakwater Capital Group lifted its position in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after purchasing an additional 62 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in Snowflake by 31.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after purchasing an additional 90 shares during the period. Modus Advisors LLC lifted 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 valued at $286,000 after buying an additional 94 shares during the period. Finally, Catalyst Private Wealth LLC grew its stake in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after purchasing an additional 104 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SNOW. Piper Sandler boosted their target price on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $150.00 to $200.00 in a research report on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. DA Davidson reiterated a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Finally, Citigroup reduced their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $179.42 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The stock’s fifty day simple moving average is $169.02 and its two-hundred day simple moving average is $137.06.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares in the company, valued at $124,515,900. The trade was a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was 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 directly owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. This represents a 18.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 504,151 shares of company stock worth $84,973,139 over the last quarter. Insiders own 7.80% of the company’s stock.

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.