Connor Clark & Lunn Investment Management Ltd. Purchases 12,492 Shares of Snowflake Inc. (NYSE:SNOW)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 126.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,372 shares of the company’s stock after buying an additional 12,492 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Snowflake were worth $2,570,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNOW. ProShare Advisors LLC lifted its holdings in shares of Snowflake by 26.1% during the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock valued at $230,000 after purchasing an additional 295 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Snowflake by 132.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 5,810 shares of the company’s stock valued at $939,000 after acquiring an additional 3,310 shares during the last quarter. Gabelli Funds LLC bought a new stake in shares of Snowflake in the first quarter worth approximately $238,000. LRI Investments LLC purchased a new position in shares of Snowflake during the first quarter valued at approximately $29,000. Finally, BOKF NA lifted its position in Snowflake by 1,424.9% during the first quarter. BOKF NA now owns 7,960 shares of the company’s stock valued at $1,278,000 after purchasing an additional 7,438 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on SNOW. Royal Bank of Canada lifted their target price on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday. Loop Capital reduced their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Bank of America raised their target price on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Trading Down 2.3 %

Shares of SNOW stock opened at $167.44 on Monday. The stock’s 50-day moving average price is $120.06 and its 200-day moving average price is $127.80. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The stock has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 287 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the transaction, the executive vice president now owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,061,544 in the last quarter. 7.80% of the stock is currently owned by 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.