Snowflake Inc. (NYSE:SNOW) Shares Sold by Commerce Bank

Commerce Bank lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 15.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,465 shares of the company’s stock after selling 970 shares during the quarter. Commerce Bank’s holdings in Snowflake were worth $628,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC acquired a new stake in Snowflake in the 1st quarter worth about $29,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the second quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new stake in Snowflake in the third quarter valued at approximately $30,000. Global Financial Private Client LLC purchased a new stake in Snowflake in the first quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the transaction, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. The trade was a 18.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benoit Dageville sold 1,946 shares of the company’s 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 sale, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,126 shares of company stock valued at $28,058,461 in the last quarter. Insiders own 7.80% of the company’s stock.

Snowflake Stock Up 2.5 %

NYSE:SNOW opened at $171.60 on Tuesday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The firm has a market cap of $57.52 billion, a P/E ratio of -50.62 and a beta of 0.83. The business’s 50-day moving average price is $121.23 and its 200 day moving average price is $127.91.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research reports. Truist Financial reissued a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Bank of America boosted their price target on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. TD Cowen raised their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, DA Davidson reissued a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $181.09.

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.