Chevy Chase Trust Holdings LLC Has $34.15 Million Stake in Snowflake Inc. (NYSE:SNOW)

Chevy Chase Trust Holdings LLC raised its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 221,166 shares of the company's stock after acquiring an additional 8,878 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.07% of Snowflake worth $34,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Jennison Associates LLC lifted its stake in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock worth $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP boosted its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. International Assets Investment Management LLC grew its stake in Snowflake by 12,318.3% in the third quarter. International Assets Investment Management LLC now owns 530,883 shares of the company's stock valued at $60,977,000 after purchasing an additional 526,608 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Snowflake by 96.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,045,409 shares of the company's stock worth $120,076,000 after purchasing an additional 513,214 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Price Performance

NYSE:SNOW traded up $5.31 during trading hours on Tuesday, hitting $192.91. The company's stock had a trading volume of 7,261,379 shares, compared to its average volume of 5,134,530. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $235.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a fifty day simple moving average of $171.66 and a 200-day simple moving average of $142.19. The company has a market capitalization of $63.68 billion, a P/E ratio of -56.91 and a beta of 1.07.

Insider Activity

In related news, CRO Christopher William Degnan sold 76,692 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the sale, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. The trade was a 18.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 45,896 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares of the company's stock, valued at $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 516,933 shares of company stock worth $88,283,752. Corporate insiders own 7.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SNOW shares. Monness Crespi & Hardt raised their target price on shares of Snowflake from $140.00 to $188.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Barclays raised shares of Snowflake from an "equal weight" rating to an "overweight" rating and set a $190.00 price objective for the company in a research report on Friday, January 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Jefferies Financial Group lifted their price target on Snowflake from $180.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Finally, Truist Financial restated a "buy" rating and issued a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.94.

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.