83,432 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 83,432 shares of the company’s stock, valued at approximately $11,271,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNOW. Accent Capital Management LLC bought a new stake in shares of Snowflake in the 4th quarter valued at $25,000. LRI Investments LLC bought a new stake in Snowflake in the first quarter valued at $29,000. FinTrust Capital Advisors LLC raised its holdings in shares of Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after purchasing an additional 128 shares during the period. Riverview Trust Co bought a new position in shares of Snowflake during the 1st quarter worth about $31,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at about $32,000. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 1,295 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.19, for a total transaction of $162,121.05. Following the sale, the insider now owns 58,791 shares of the company’s stock, valued at approximately $7,360,045.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, insider Benoit Dageville sold 1,295 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.19, for a total value of $162,121.05. Following the completion of the transaction, the insider now directly owns 58,791 shares of the company’s stock, valued at approximately $7,360,045.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 512,262 shares of company stock valued at $63,340,261. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SNOW. JMP Securities cut their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. Mizuho cut their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Citigroup reduced their price target on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Sanford C. Bernstein upped their price objective on shares of Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Finally, Robert W. Baird reduced their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

Snowflake Price Performance

Shares of NYSE SNOW opened at $113.67 on Monday. The stock has a market capitalization of $38.10 billion, a PE ratio of -40.60 and a beta of 0.83. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The business’s fifty day moving average price is $123.48 and its 200-day moving average price is $141.48.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.52) earnings per share. As a group, equities analysts expect that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

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.