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

CMH Wealth Management LLC trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW) by 38.3% in the 4th quarter, HoldingsChannel reports. The firm owned 49,444 shares of the company’s stock after selling 30,700 shares during the period. Snowflake makes up 1.7% of CMH Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. CMH Wealth Management LLC’s holdings in Snowflake were worth $7,635,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SNOW. Harbor Investment Advisory LLC increased its position in shares of Snowflake by 85.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 435 shares of the company’s stock valued at $67,000 after purchasing an additional 200 shares during the last quarter. Trueblood Wealth Management LLC acquired a new position in shares of Snowflake during the fourth quarter worth $276,000. Diversify Advisory Services LLC grew its stake in shares of Snowflake by 7.4% during the fourth quarter. Diversify Advisory Services LLC now owns 100,284 shares of the company’s stock worth $16,292,000 after purchasing an additional 6,922 shares in the last quarter. Lbmc Investment Advisors LLC purchased a new position in Snowflake in the fourth quarter valued at $488,000. Finally, Perkins Coie Trust Co raised its stake in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of several analyst reports. Monness Crespi & Hardt upped their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler upped their price target on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a report on Friday, January 10th. Cantor Fitzgerald initiated coverage on shares of Snowflake in a report on Friday. They issued an “overweight” rating and a $201.00 target price for the company. Finally, TD Cowen increased their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $188.06.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the transaction, the executive now directly owns 311,999 shares of the company’s stock, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 376,904 shares of company stock valued at $62,545,855. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $170.89 on Tuesday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a 50-day moving average price of $161.11 and a 200 day moving average price of $134.92. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.