CIBC Asset Management Inc Buys 1,616 Shares of Snowflake Inc. (NYSE:SNOW)

CIBC Asset Management Inc raised its stake in Snowflake Inc. (NYSE:SNOW) by 13.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,321 shares of the company’s stock after purchasing an additional 1,616 shares during the quarter. CIBC Asset Management Inc’s holdings in Snowflake were worth $2,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Jennison Associates LLC boosted its holdings in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. State Street Corp lifted its position in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 138,663 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board increased its position in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on SNOW shares. Jefferies Financial Group boosted their price objective on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday. Monness Crespi & Hardt boosted their price target on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Piper Sandler raised their price objective on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Evercore ISI boosted their target price on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft increased their target price 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, nine have assigned a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $192.89.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 2,021 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 394,345 shares of company stock valued at $67,286,835 in the last quarter. Insiders own 7.80% of the company’s stock.

Snowflake Stock Down 3.9 %

SNOW stock opened at $177.79 on Friday. The company’s 50 day moving average is $172.88 and its 200 day moving average is $143.76. The stock has a market cap of $58.69 billion, a price-to-earnings ratio of -52.45 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $235.66.

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.