Canada Pension Plan Investment Board Has $41.53 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Canada Pension Plan Investment Board grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 66.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 268,971 shares of the company's stock after acquiring an additional 107,816 shares during the period. Canada Pension Plan Investment Board owned 0.08% of Snowflake worth $41,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Prospect Financial Services LLC bought a new position in shares of Snowflake in the 4th quarter valued at about $288,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after buying an additional 8,857 shares during the period. Bourgeon Capital Management LLC bought a new position in Snowflake in the fourth quarter valued at approximately $5,851,000. Stephens Consulting LLC grew its holdings in Snowflake by 7,407.4% during the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock worth $313,000 after acquiring an additional 2,000 shares during the period. Finally, Kirtland Hills Capital Management LLC raised its position in shares of Snowflake by 40.1% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock valued at $2,458,000 after acquiring an additional 4,559 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SNOW shares. Piper Sandler reduced their price target on Snowflake from $215.00 to $175.00 and set an "overweight" rating on the stock in a research report on Wednesday. Barclays raised their target price on Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. KeyCorp decreased their target price on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target on the stock in a research report on Thursday, February 20th. Finally, Evercore ISI boosted their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $200.27.

Snowflake Stock Performance

Shares of SNOW traded up $7.17 during midday trading on Wednesday, reaching $147.40. 5,600,939 shares of the stock were exchanged, compared to its average volume of 5,669,361. The stock's 50 day simple moving average is $157.00 and its 200 day simple moving average is $155.02. The company has a market cap of $48.66 billion, a P/E ratio of -43.48 and a beta of 1.13. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company's stock, valued at $3,408,968.75. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares of the company's stock, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 364,342 shares of company stock valued at $59,978,513. 7.80% of the stock is owned by company insiders.

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.