Connor Clark & Lunn Investment Management Ltd. Purchases 12,492 Shares of Snowflake Inc. (NYSE:SNOW)

Connor Clark & Lunn Investment Management Ltd. increased its position in Snowflake Inc. (NYSE:SNOW) by 126.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,372 shares of the company’s stock after acquiring an additional 12,492 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Snowflake were worth $2,570,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kirtland Hills Capital Management LLC raised its position in shares of Snowflake by 24.0% in the third quarter. Kirtland Hills Capital Management LLC now owns 11,361 shares of the company’s stock valued at $1,305,000 after purchasing an additional 2,202 shares during the period. Prospera Private Wealth LLC purchased a new position in Snowflake in the 3rd quarter valued at approximately $146,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Snowflake during the 3rd quarter valued at $1,292,000. Swiss National Bank lifted its position in shares of Snowflake by 0.4% during the third quarter. Swiss National Bank now owns 894,300 shares of the company’s stock worth $102,719,000 after acquiring an additional 3,800 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Snowflake by 8.8% in the third quarter. Empowered Funds LLC now owns 6,013 shares of the company’s stock worth $691,000 after acquiring an additional 487 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Price Performance

NYSE SNOW opened at $167.44 on Monday. The business’s 50-day moving average is $120.06 and its 200 day moving average is $127.80. The stock has a market capitalization of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

Analysts Set New Price Targets

SNOW has been the topic of a number of recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Truist Financial restated a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $180.00 target price on shares of Snowflake in a report on Thursday. Bank of America raised their price target on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.23.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This trade represents a 3.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now owns 53,250 shares in the company, valued at $5,932,582.50. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by insiders.

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.