BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Position in Snowflake Inc. (NYSE:SNOW)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 12.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,272 shares of the company’s stock after selling 7,337 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Snowflake were worth $5,774,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC grew its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new position in Snowflake in the second quarter worth $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake during the 3rd quarter valued at $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake in the 2nd quarter worth $39,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of research analyst reports. KeyCorp increased their price target on Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Bank of America lifted their target price on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Royal Bank of Canada upped their price target on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Barclays lifted their price objective on shares of Snowflake from $142.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Finally, TD Cowen upped their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $181.09.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CRO Christopher William Degnan sold 76,692 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 264,278 shares of company stock worth $42,512,248. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $172.33 on Tuesday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a 50-day simple moving average of $126.17 and a 200-day simple moving average of $128.27.

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.