Comprehensive Financial Management LLC Increases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Comprehensive Financial Management LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.5% during the third quarter, Holdings Channel reports. The firm owned 55,987 shares of the company’s stock after purchasing an additional 1,356 shares during the period. Snowflake makes up approximately 0.2% of Comprehensive Financial Management LLC’s investment portfolio, making the stock its 15th largest position. Comprehensive Financial Management LLC’s holdings in Snowflake were worth $6,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SNOW. LRI Investments LLC increased its position in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in Snowflake in the 2nd quarter valued at $27,000. V Square Quantitative Management LLC purchased a new stake in Snowflake in the 3rd quarter valued at $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake during the 3rd quarter worth $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake in the second quarter valued at $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SNOW. Scotiabank lowered their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of Snowflake in a research note on Tuesday, November 19th. Piper Sandler reaffirmed an “overweight” rating and set a $185.00 price target (up from $165.00) on shares of Snowflake in a report on Thursday, November 21st. Argus began coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating on the stock. Finally, Oppenheimer restated an “outperform” rating and issued a $180.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Price Performance

Shares of SNOW stock opened at $174.80 on Monday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The firm’s 50-day simple moving average is $126.17 and its 200-day simple moving average is $128.27. The firm has a market cap of $58.59 billion, a P/E ratio of -51.56 and a beta of 0.83.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 20,514 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total value of $3,595,283.64. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,582,896.10. This trade represents a 8.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,661 shares of company stock valued at $32,004,752 over the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake 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.