Chevy Chase Trust Holdings LLC Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Chevy Chase Trust Holdings LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 221,166 shares of the company’s stock after acquiring an additional 8,878 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Snowflake were worth $34,150,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its position in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC bought a new stake in Snowflake during the fourth quarter valued at approximately $288,000. Independent Advisor Alliance grew its position in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after buying an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after buying an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC bought a new stake in Snowflake during the fourth quarter valued at approximately $5,851,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 2.5 %

SNOW stock opened at $187.86 on Friday. 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 twelve month low of $107.13 and a twelve month high of $236.33. The firm’s fifty day simple moving average is $171.51 and its two-hundred day simple moving average is $141.58.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the transaction, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 516,933 shares of company stock worth $88,283,752. Insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. KeyCorp boosted their target price on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price target on shares of Snowflake in a report on Thursday, November 21st. Cantor Fitzgerald initiated coverage on shares of Snowflake in a report on Friday, January 17th. They set an “overweight” rating and a $201.00 price target on the stock. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $200.00 in a report on Tuesday, January 7th. Finally, Scotiabank lifted their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $187.63.

About Snowflake

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.