Truist Financial Corp Boosts Position in Snowflake Inc. (NYSE:SNOW)

Truist Financial Corp lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 33.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,820 shares of the company’s stock after acquiring an additional 10,409 shares during the period. Truist Financial Corp’s holdings in Snowflake were worth $6,457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNOW. Blue Trust Inc. raised its holdings in Snowflake by 168.5% in the 3rd quarter. Blue Trust Inc. now owns 1,407 shares of the company’s stock valued at $162,000 after buying an additional 883 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Snowflake by 73.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock valued at $91,000 after buying an additional 335 shares during the period. Signaturefd LLC raised its holdings in Snowflake by 13.0% in the 3rd quarter. Signaturefd LLC now owns 2,161 shares of the company’s stock valued at $248,000 after buying an additional 248 shares during the period. International Assets Investment Management LLC raised its holdings in Snowflake by 12,318.3% in the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after buying an additional 526,608 shares during the period. Finally, IFM Investors Pty Ltd raised its holdings in Snowflake by 0.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 59,081 shares of the company’s stock valued at $6,786,000 after buying an additional 294 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research analyst reports. Mizuho boosted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Oppenheimer boosted their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of Snowflake in a research note on Tuesday, November 19th. Loop Capital boosted their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Truist Financial reiterated a “buy” rating and set a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.43.

Snowflake Price Performance

SNOW stock opened at $177.79 on Friday. The company has a market capitalization of $58.69 billion, a P/E ratio of -52.45 and a beta of 1.07. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $235.66. The business has a 50 day simple moving average of $172.88 and a 200-day simple moving average of $143.96. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 20,514 shares of Snowflake stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,582,896.10. The trade was a 8.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at $4,667,476.32. This trade represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 394,345 shares of company stock worth $67,286,835 over the last 90 days. 7.80% of the stock is currently owned by insiders.

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.