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

Citizens Financial Group Inc. RI cut its stake in Snowflake Inc. (NYSE:SNOW) by 75.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,303 shares of the company’s stock after selling 71,294 shares during the period. Citizens Financial Group Inc. RI’s holdings in Snowflake were worth $3,598,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC grew its position in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. State Street Corp grew 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 purchasing an additional 54,909 shares during the last quarter. Geode Capital Management LLC increased its stake in Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP raised its holdings in shares of 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 buying an additional 881,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted 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 worth $295,459,000 after buying an additional 2,559,144 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the transaction, the chief accounting officer now directly owns 44,760 shares in the company, valued at approximately $7,303,489.20. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 3,029 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total value of $517,959.00. Following the completion of the sale, the executive vice president now directly owns 684,639 shares in the company, valued at approximately $117,073,269. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 294,923 shares of company stock valued at $49,689,983. Company insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $149.75 on Wednesday. The stock has a market capitalization of $49.43 billion, a P/E ratio of -44.17 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. 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 firm’s 50-day moving average is $173.55 and its two-hundred day moving average is $147.55.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SNOW shares. Barclays boosted their price target on Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Oppenheimer increased their price target on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Rosenblatt Securities boosted their price objective on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Evercore ISI raised their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Bank of America boosted their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

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.