Cibc World Markets Corp Sells 9,116 Shares of Snowflake Inc. (NYSE:SNOW)

Cibc World Markets Corp lessened its stake in shares of Snowflake Inc. (NYSE:SNOW) by 40.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 13,652 shares of the company’s stock after selling 9,116 shares during the period. Cibc World Markets Corp’s holdings in Snowflake were worth $2,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC raised its position in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. State Street Corp raised its stake in Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC lifted its holdings in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Snowflake by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock valued at $222,344,000 after buying an additional 51,366 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 0.5 %

NYSE SNOW opened at $157.94 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $52.14 billion, a price-to-earnings ratio of -46.59 and a beta of 1.07. The company’s 50-day simple moving average is $172.74 and its two-hundred day simple moving average is $149.34.

Insider Activity

In other news, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares in the company, valued at approximately $30,268,555. This trade represents a 33.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 861 shares of Snowflake stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $165.31, for a total transaction of $142,331.91. Following the completion of the transaction, the executive vice president now directly owns 582,930 shares in the company, valued at approximately $96,364,158.30. The trade was a 0.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 298,429 shares of company stock worth $50,065,812. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the subject of a number of research reports. Barclays upped their target price on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Wedbush set a $210.00 price objective on Snowflake in a research report on Wednesday, January 22nd. Loop Capital boosted their target price on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. KeyCorp raised their price target on Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.08.

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.