CIBC Private Wealth Group LLC Acquires 62,803 Shares of Snowflake Inc. (NYSE:SNOW)

CIBC Private Wealth Group LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW – Get Rating) by 43.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 207,898 shares of the company’s stock after purchasing an additional 62,803 shares during the quarter. CIBC Private Wealth Group LLC owned 0.06% of Snowflake worth $35,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ronald Blue Trust Inc. increased its position in Snowflake by 41.4% during the third quarter. Ronald Blue Trust Inc. now owns 198 shares of the company’s stock valued at $28,000 after acquiring an additional 58 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Castleview Partners LLC purchased a new stake in Snowflake during the second quarter valued at $32,000. Janiczek Wealth Management LLC increased its position in Snowflake by 617.9% during the third quarter. Janiczek Wealth Management LLC now owns 201 shares of the company’s stock valued at $32,000 after acquiring an additional 173 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its position in Snowflake by 5,000.0% in the third quarter. GHP Investment Advisors Inc. now owns 204 shares of the company’s stock worth $35,000 after buying an additional 200 shares in the last quarter. 65.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNOW. Piper Sandler restated a “buy” rating and issued a $194.00 price target on shares of Snowflake in a research report on Thursday, March 2nd. Barclays reduced their price target on Snowflake from $180.00 to $171.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. Wedbush started coverage on Snowflake in a research report on Wednesday, December 14th. They issued a “neutral” rating and a $144.00 price target for the company. Canaccord Genuity Group cut their target price on Snowflake from $220.00 to $195.00 in a research report on Thursday, December 1st. Finally, Scotiabank started coverage on Snowflake in a research report on Wednesday, January 18th. They set a “sector perform” rating and a $125.00 target price for the company. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.75.

Insider Activity

In related news, insider Benoit Dageville sold 57,564 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $140.13, for a total transaction of $8,066,443.32. Following the completion of the sale, the insider now directly owns 14,404 shares of the company’s stock, valued at approximately $2,018,432.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Benoit Dageville sold 57,564 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $140.13, for a total transaction of $8,066,443.32. Following the completion of the sale, the insider now directly owns 14,404 shares of the company’s stock, valued at approximately $2,018,432.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank Slootman sold 1,701 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $141.38, for a total value of $240,487.38. Following the sale, the chief executive officer now directly owns 130,241 shares of the company’s stock, valued at $18,413,472.58. The disclosure for this sale can be found here. Insiders sold 70,318 shares of company stock valued at $9,856,800 in the last ninety days. Insiders own 8.90% of the company’s stock.

Snowflake Stock Up 1.5 %

NYSE:SNOW opened at $139.82 on Wednesday. Snowflake Inc. has a 1 year low of $110.26 and a 1 year high of $246.52. The business has a 50 day simple moving average of $148.84 and a 200-day simple moving average of $155.67.

Snowflake Company Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.