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

Chevy Chase Trust Holdings LLC reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 28.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 212,288 shares of the company’s stock after selling 82,669 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Snowflake were worth $24,383,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Modus Advisors LLC increased its stake in shares of Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the last quarter. Catalyst Private Wealth LLC increased its position in Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after purchasing an additional 108 shares during the period. LRI Investments LLC boosted its holdings in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Finally, Hoylecohen LLC boosted its holdings in shares of Snowflake by 2.7% in the 2nd quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock valued at $589,000 after purchasing an additional 115 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares in the company, valued at approximately $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,278 shares of company stock worth $42,512,248 over the last quarter. 7.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Needham & Company LLC increased their target price on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada raised their price objective on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Monness Crespi & Hardt boosted their target price on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, UBS Group decreased their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $181.09.

Snowflake Stock Up 2.1 %

Shares of NYSE:SNOW opened at $176.02 on Wednesday. The company’s fifty day moving average is $128.62 and its two-hundred day moving average is $128.42. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a market capitalization of $59.00 billion, a price-to-earnings ratio of -51.92 and a beta of 1.03.

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.