Snowflake Inc. (NYSE:SNOW) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW) by 50.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,094 shares of the company’s stock after selling 26,389 shares during the period. Truist Financial Corp’s holdings in Snowflake were worth $5,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cigna Investments Inc. New grew its position in Snowflake by 1.6% during the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after buying an additional 51 shares during the period. E&G Advisors LP increased its stake in shares of Snowflake by 3.0% in the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after purchasing an additional 51 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the period. Valley National Advisers Inc. boosted its position in Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after purchasing an additional 53 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in Snowflake by 5.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock valued at $220,000 after purchasing an additional 61 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $230.00, for a total value of $2,300,000.00. Following the sale, the senior vice president now owns 726,567 shares of the company’s stock, valued at approximately $167,110,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now owns 354,954 shares in the company, valued at $55,571,598.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now owns 726,567 shares in the company, valued at $167,110,410. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,458 shares of company stock worth $31,585,640. Company insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNOW. Bank of America decreased their target price on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Barclays lowered their price objective on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Needham & Company LLC reduced their target price on Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, Rosenblatt Securities raised Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $202.77.

Snowflake Trading Up 1.0 %

Shares of NYSE:SNOW opened at $159.32 on Monday. The firm’s 50-day moving average is $163.20 and its two-hundred day moving average is $179.12. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. As a group, research analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

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.