CMH Wealth Management LLC Sells 30,700 Shares of Snowflake Inc. (NYSE:SNOW)

CMH Wealth Management LLC lowered its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 38.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,444 shares of the company's stock after selling 30,700 shares during the quarter. Snowflake makes up 1.7% of CMH Wealth Management LLC's investment portfolio, making the stock its 26th largest position. CMH Wealth Management LLC's holdings in Snowflake were worth $7,635,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its position in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock valued at $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company's stock valued at $468,000 after buying an additional 548 shares in the last quarter. Franklin Resources Inc. lifted its position in Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company's stock worth $66,086,000 after buying an additional 7,373 shares during the last quarter. Westend Capital Management LLC purchased a new stake in Snowflake in the fourth quarter worth approximately $10,550,000. Finally, Kraematon Investment Advisors Inc. bought a new position in Snowflake during the fourth quarter valued at approximately $240,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares of the company's stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 45,896 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now owns 208,735 shares of the company's stock, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is owned by insiders.

Snowflake Stock Up 1.5 %

Shares of SNOW stock traded up $2.64 during mid-day trading on Tuesday, hitting $173.43. The company's stock had a trading volume of 5,268,632 shares, compared to its average volume of 5,036,526. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The stock has a market cap of $57.25 billion, a price-to-earnings ratio of -51.16 and a beta of 1.05. The business has a 50-day moving average price of $162.06 and a 200 day moving average price of $135.12.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNOW. Royal Bank of Canada boosted their target price on Snowflake from $175.00 to $188.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Argus began coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a "hold" rating on the stock. Evercore ISI increased their price target on shares of Snowflake from $170.00 to $190.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Wells Fargo & Company raised shares of Snowflake from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $150.00 to $200.00 in a report on Tuesday, January 7th. Finally, TD Cowen boosted their price target on Snowflake from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $188.06.

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.