Snowflake Inc. (NYSE:SNOW) Shares Acquired by Comerica Bank

by · The Cerbat Gem

Comerica Bank increased its stake in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,763 shares of the company’s stock after acquiring an additional 781 shares during the period. Comerica Bank’s holdings in Snowflake were worth $3,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SNOW. Jennison Associates LLC grew its stake in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. Norges Bank purchased a new position in Snowflake in the fourth quarter valued at $988,950,000. FMR LLC raised its position in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after acquiring an additional 2,805,425 shares during the period. GQG Partners LLC purchased a new stake in shares of Snowflake during the 4th quarter worth about $750,572,000. Finally, Geode Capital Management LLC grew its position in shares of Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock valued at $642,742,000 after acquiring an additional 15,314 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNOW. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada lifted their price target on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Barclays upped their price objective on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. UBS Group lifted their target price on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, Evercore ISI upped their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $200.28.

View Our Latest Report on SNOW

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. This trade represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the transaction, the director now directly owns 25,972 shares of the company’s stock, valued at $4,363,555.72. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock worth $58,204,058 over the last three months. Company insiders own 7.80% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $170.66 on Thursday. The business’s fifty day moving average price is $153.27 and its 200 day moving average price is $157.99. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a market capitalization of $56.34 billion, a PE ratio of -50.34 and a beta of 1.11. 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

(Free Report)

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.

See Also

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