CMH Wealth Management LLC Trims Stock Position in Snowflake Inc. (NYSE:SNOW)

CMH Wealth Management LLC decreased its stake in Snowflake Inc. (NYSE:SNOW) by 38.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 holdings, 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.

Other hedge funds have also recently modified their holdings of the company. Ontario Teachers Pension Plan Board increased its holdings in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the period. AQR Capital Management LLC increased its stake in shares of Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares in the last quarter. SG Americas Securities LLC raised its holdings in Snowflake by 471.9% in the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after purchasing an additional 628,511 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Snowflake by 12,318.3% during the third quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock worth $60,977,000 after purchasing an additional 526,608 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at $4,667,476.32. The trade was a 6.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 45,896 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 376,904 shares of company stock valued at $62,545,855. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays upgraded 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. Bank of America boosted their price target on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Cantor Fitzgerald initiated coverage on shares of Snowflake in a research report on Friday. They set an “overweight” rating and a $201.00 price objective for the company. Jefferies Financial Group lifted their target price on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Wedbush downgraded shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Two investment 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.06.

Snowflake Stock Performance

NYSE SNOW opened at $170.89 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average is $161.11 and its two-hundred day moving average is $134.92. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake Company 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.