Snowflake Inc. (NYSE:SNOW) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp lowered its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 51.9% in the fourth quarter, Holdings Channel reports. The firm owned 156,444 shares of the company’s stock after selling 168,683 shares during the quarter. Alberta Investment Management Corp’s holdings in Snowflake were worth $24,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Toronto Dominion Bank lifted its stake in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $288,000. Independent Advisor Alliance lifted its stake in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after acquiring an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $5,851,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several recent analyst reports. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday. Mizuho raised their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Needham & Company LLC increased their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Oppenheimer increased their price target on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $188.94.

Snowflake Price Performance

SNOW opened at $192.91 on Wednesday. The company’s 50 day simple moving average is $172.08 and its 200 day simple moving average is $142.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $235.66.

Insider Buying and Selling

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the transaction, the executive now directly owns 346,741 shares of the company’s stock, valued at $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 516,933 shares of company stock valued at $88,283,752. Insiders own 7.80% of the company’s stock.

Snowflake Company 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.