Commonwealth Equity Services LLC Purchases 3,155 Shares of Snowflake Inc. (NYSE:SNOW)

Commonwealth Equity Services LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,150 shares of the company’s stock after purchasing an additional 3,155 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Snowflake were worth $10,369,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its stake in Snowflake by 24.2% in the third quarter. OneDigital Investment Advisors LLC now owns 3,154 shares of the company’s stock valued at $362,000 after buying an additional 614 shares during the period. CIBC Asset Management Inc lifted its position in shares of Snowflake by 4.9% during the 3rd quarter. CIBC Asset Management Inc now owns 11,705 shares of the company’s stock valued at $1,344,000 after acquiring an additional 544 shares during the period. Empowered Funds LLC boosted its stake in Snowflake by 8.8% during the third quarter. Empowered Funds LLC now owns 6,013 shares of the company’s stock worth $691,000 after acquiring an additional 487 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Snowflake in the third quarter worth $1,292,000. Finally, Prospera Private Wealth LLC bought a new stake in Snowflake in the third quarter valued at $146,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on SNOW shares. Piper Sandler raised their target price on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Oppenheimer raised their price objective on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and set a $225.00 target price (up from $210.00) on shares of Snowflake in a research report on Thursday, February 27th. 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 research report on Monday, December 9th. Finally, Bank of America boosted their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 7,016 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the sale, the director now directly owns 182,999 shares in the company, valued at approximately $28,491,114.31. This represents a 3.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 3,765 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $586,172.85. Following the completion of the transaction, the executive vice president now directly owns 616,602 shares of the company’s stock, valued at approximately $95,998,765.38. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 298,429 shares of company stock valued at $50,065,812 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Snowflake Trading Up 1.0 %

NYSE:SNOW opened at $155.89 on Thursday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $172.91 and its 200 day moving average is $148.98. The stock has a market capitalization of $51.46 billion, a PE ratio of -45.98 and a beta of 1.07.

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.