Charles Schwab Investment Management Inc. Has $143.29 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Charles Schwab Investment Management Inc. raised its stake in Snowflake Inc. (NYSE:SNOW) by 3.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,247,511 shares of the company’s stock after acquiring an additional 36,704 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Snowflake were worth $143,289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. LRI Investments LLC lifted its position in 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 acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the 2nd quarter valued at about $27,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the third quarter valued at about $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake during the third quarter worth about $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Snowflake in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling

In related news, Director Frank Slootman sold 6,251 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at $23,877,196.65. This represents a 2.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. The trade was a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 over the last quarter. 7.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Thursday. Mizuho lifted their price target on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and issued a $185.00 price objective (up previously from $165.00) on shares of Snowflake in a report on Thursday. Truist Financial reiterated a “buy” rating and set a $210.00 target price on shares of Snowflake in a report on Thursday. Finally, Scotiabank decreased their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Stock Performance

NYSE:SNOW opened at $167.44 on Monday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a market cap of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. The stock has a fifty day moving average price of $120.06 and a 200-day moving average price of $127.80.

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.