CIBC Private Wealth Group LLC grew its stake in Snowflake Inc. (NYSE:SNOW – Get Rating) by 43.3% during the third quarter, HoldingsChannel reports. The fund owned 207,898 shares of the company’s stock after acquiring an additional 62,803 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Snowflake were worth $35,335,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ronald Blue Trust Inc. boosted its position in shares of Snowflake by 41.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 198 shares of the company’s stock worth $28,000 after purchasing an additional 58 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Snowflake by 333.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Castleview Partners LLC acquired a new stake in shares of Snowflake in the 2nd quarter worth $32,000. Janiczek Wealth Management LLC boosted its position in shares of Snowflake by 617.9% in the 3rd quarter. Janiczek Wealth Management LLC now owns 201 shares of the company’s stock worth $32,000 after purchasing an additional 173 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of Snowflake by 5,000.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 204 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SNOW has been the subject of a number of research reports. UBS Group lowered their price target on Snowflake from $175.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, December 1st. Canaccord Genuity Group lowered their price target on Snowflake from $220.00 to $195.00 in a research report on Thursday, December 1st. Scotiabank initiated coverage on Snowflake in a research report on Wednesday, January 18th. They set a “sector perform” rating and a $125.00 price target for the company. Morgan Stanley lowered their price target on Snowflake from $225.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, March 3rd. Finally, Robert W. Baird lowered their price target on Snowflake from $185.00 to $180.00 in a research report on Thursday, March 2nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.75.
Snowflake Trading Up 1.5 %
SNOW opened at $139.82 on Wednesday. Snowflake Inc. has a one year low of $110.26 and a one year high of $246.52. The business’s 50 day moving average price is $148.84 and its 200 day moving average price is $155.67.
Insider Activity at Snowflake
In other Snowflake news, insider Benoit Dageville sold 57,564 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 14,404 shares in the company, valued at $2,018,432.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snowflake news, insider Benoit Dageville sold 57,564 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 14,404 shares in the company, valued at $2,018,432.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dennis Mcmahon sold 1,000 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $142.65, for a total value of $142,650.00. Following the transaction, the director now owns 154,902 shares in the company, valued at $22,096,770.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,318 shares of company stock worth $9,856,800. Insiders own 8.90% of the company’s stock.
About Snowflake
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.
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