Snowflake Inc. (NYSE:SNOW) Stake Lessened by Commerce Bank

Commerce Bank decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 15.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,465 shares of the company’s stock after selling 970 shares during the quarter. Commerce Bank’s holdings in Snowflake were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. LRI Investments LLC purchased a new position in Snowflake during the 1st quarter valued at about $29,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake during the second quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new position in Snowflake during the third quarter valued at approximately $30,000. Global Financial Private Client LLC acquired a new position in Snowflake in the 1st quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Snowflake in the 2nd quarter worth approximately $39,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on SNOW shares. Needham & Company LLC boosted their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Canaccord Genuity Group lowered their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Barclays raised their price target on Snowflake from $142.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Piper Sandler reissued an “overweight” rating and issued a $185.00 price target (up previously from $165.00) on shares of Snowflake in a research note on Thursday, November 21st. Finally, TD Cowen raised their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $181.09.

Insider Activity at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction on 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 sale, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,126 shares of company stock valued at $28,058,461 over the last quarter. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $171.60 on Tuesday. The firm has a fifty day moving average of $121.23 and a 200-day moving average of $127.91. The stock has a market cap of $57.52 billion, a price-to-earnings ratio of -50.62 and a beta of 0.83. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

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.