Snowflake Inc. (NYSE:SNOW) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 75.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,303 shares of the company’s stock after selling 71,294 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Snowflake were worth $3,598,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its position in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. State Street Corp lifted its position in Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after acquiring an additional 138,663 shares during the period. Two Sigma Advisers LP grew its position in Snowflake by 27.9% in the third 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 in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its stake in shares of Snowflake by 19,399.2% during 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 purchasing an additional 2,559,144 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Barclays lifted their target price on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Stifel Nicolaus boosted their price target on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Needham & Company LLC raised their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, UBS Group upped their target price on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $202.92.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the transaction, the executive vice president now owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 294,923 shares of company stock valued at $49,689,983. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

SNOW opened at $149.75 on Wednesday. The business has a 50 day moving average price of $173.55 and a two-hundred day moving average price of $147.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $49.43 billion, a price-to-earnings ratio of -44.17 and a beta of 1.07. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

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.