The Manufacturers Life Insurance Company Increases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

The Manufacturers Life Insurance Company increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,815 shares of the company’s stock after buying an additional 633 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Snowflake were worth $3,884,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Capital Investment Advisors LLC grew its position in Snowflake by 22.1% in the second quarter. Capital Investment Advisors LLC now owns 1,661 shares of the company’s stock valued at $224,000 after acquiring an additional 301 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Snowflake during the 2nd quarter worth $39,000. Mirador Capital Partners LP acquired a new position in Snowflake in the 2nd quarter worth $257,000. Artemis Investment Management LLP purchased a new position in Snowflake in the 2nd quarter valued at about $13,918,000. Finally, Asset Management Advisors LLC grew its stake in shares of Snowflake by 1.9% during the second quarter. Asset Management Advisors LLC now owns 29,739 shares of the company’s stock valued at $4,017,000 after acquiring an additional 548 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $183.64 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $60.62 billion, a price-to-earnings ratio of -54.17 and a beta of 1.03. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The firm’s 50-day moving average is $132.90 and its 200 day moving average is $129.33.

Analyst Ratings Changes

A number of brokerages recently commented on SNOW. Barclays increased their price target on Snowflake from $172.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday. Canaccord Genuity Group decreased their price target on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Wells Fargo & Company upped their price target on shares of Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Oppenheimer restated an “outperform” rating and issued a $180.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $182.31.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 294,278 shares of company stock worth $47,825,233. 7.80% of the stock is currently owned by corporate insiders.

About Snowflake

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.