The Manufacturers Life Insurance Company Raises Stock Position in Snowflake Inc. (NYSE:SNOW)

The Manufacturers Life Insurance Company raised its position in Snowflake Inc. (NYSE:SNOW) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,815 shares of the company’s stock after acquiring an additional 633 shares during the period. The Manufacturers Life Insurance Company’s holdings in Snowflake were worth $3,884,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Independent Advisor Alliance boosted its position in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the period. Centaurus Financial Inc. lifted its stake in Snowflake by 8.8% during the third quarter. Centaurus Financial Inc. now owns 7,159 shares of the company’s stock worth $822,000 after purchasing an additional 582 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Snowflake by 81.3% during the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after buying an additional 152 shares during the period. Cerity Partners LLC grew its stake in shares of Snowflake by 10.1% in the third quarter. Cerity Partners LLC now owns 53,966 shares of the company’s stock valued at $6,198,000 after buying an additional 4,960 shares in the last quarter. Finally, Great Valley Advisor Group Inc. raised its holdings in shares of Snowflake by 27.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 15,005 shares of the company’s stock valued at $1,724,000 after buying an additional 3,206 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In related news, Director Frank Slootman sold 1,606 shares of Snowflake 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 $176,595.76. Following the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 2,021 shares of the 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 sale, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 294,278 shares of company stock valued at $47,825,233 in the last ninety days. 7.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays increased their price target on shares of Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday. Wedbush upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Monday, November 25th. Citigroup dropped their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Argus initiated coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.31.

Snowflake Stock Performance

Shares of Snowflake stock opened at $183.64 on Friday. The stock has a market cap of $60.62 billion, a price-to-earnings ratio of -54.17 and a beta of 1.03. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company’s fifty day moving average is $132.90 and its 200 day moving average is $129.33. The company has a quick ratio of 1.58, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.