Healthcare of Ontario Pension Plan Trust Fund Sells 117,429 Shares of Snowflake Inc. (NYSE:SNOW)

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 96.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,371 shares of the company’s stock after selling 117,429 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Snowflake were worth $502,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. LRI Investments LLC lifted its stake 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 period. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake during the 2nd quarter worth about $27,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the 3rd quarter valued at about $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC bought a new position in Snowflake during the 2nd quarter worth approximately $39,000. 65.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SNOW shares. Canaccord Genuity Group cut their target price on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $185.00 price target (up previously from $165.00) on shares of Snowflake in a research report on Thursday, November 21st. 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 note on Thursday, November 21st. Stifel Nicolaus cut their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Stock Down 1.4 %

NYSE SNOW opened at $172.33 on Tuesday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The firm has a 50-day moving average price of $126.17 and a two-hundred day moving average price of $128.27. The company has a market capitalization of $57.77 billion, a P/E ratio of -50.76 and a beta of 0.83.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,278 shares of company stock worth $42,512,248. 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.