Connor Clark & Lunn Investment Management Ltd. Acquires 101,806 Shares of Snowflake Inc. (NYSE:SNOW)

by · The Cerbat Gem

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 455.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 124,178 shares of the company’s stock after purchasing an additional 101,806 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Snowflake were worth $19,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SNOW. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Snowflake by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 664,858 shares of the company’s stock valued at $76,366,000 after acquiring an additional 3,487 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of Snowflake by 19.5% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 11,307 shares of the company’s stock valued at $1,299,000 after buying an additional 1,848 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Snowflake by 49.7% in the 3rd quarter. Victory Capital Management Inc. now owns 420,088 shares of the company’s stock valued at $48,251,000 after buying an additional 139,459 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Snowflake by 59.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,851 shares of the company’s stock valued at $4,003,000 after buying an additional 13,053 shares in the last quarter. Finally, Kovack Advisors Inc. increased its position in shares of Snowflake by 39.3% in the 3rd quarter. Kovack Advisors Inc. now owns 3,194 shares of the company’s stock valued at $367,000 after buying an additional 901 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNOW. Scotiabank upped their price objective 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. Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research report on Tuesday, February 18th. Finally, BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

View Our Latest Report on SNOW

Snowflake Stock Down 1.7 %

Shares of SNOW stock opened at $149.83 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm’s 50-day moving average is $173.36 and its 200-day moving average is $147.60. The stock has a market cap of $49.46 billion, a price-to-earnings ratio of -44.20 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the transaction, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 6,714 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the completion of the transaction, the director now directly owns 196,454 shares in the company, valued at approximately $33,593,634. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 297,391 shares of company stock valued at $50,053,371. 7.80% of the stock is owned by company insiders.

About Snowflake

(Free Report)

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.

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