Snowflake Inc. (NYSE:SNOW) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its position in shares of Snowflake Inc. (NYSE:SNOW) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,794 shares of the company’s stock after selling 1,776 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Snowflake were worth $9,511,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its holdings in Snowflake by 139.8% during the third quarter. Stratos Wealth Partners LTD. now owns 4,818 shares of the company’s stock worth $736,000 after purchasing an additional 2,809 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Snowflake by 3.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,244 shares of the company’s stock worth $9,051,000 after acquiring an additional 2,232 shares during the last quarter. Mackenzie Financial Corp grew its stake in Snowflake by 19.6% during the third quarter. Mackenzie Financial Corp now owns 22,174 shares of the company’s stock worth $3,299,000 after buying an additional 3,627 shares during the period. IFM Investors Pty Ltd boosted its position in Snowflake by 2.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 51,827 shares of the company’s stock worth $7,918,000 after purchasing an additional 1,419 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Snowflake by 25.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 160,384 shares of the company’s stock worth $24,502,000 after buying an additional 32,990 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Snowflake from $200.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Truist Financial lowered their price target on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Rosenblatt Securities upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Friday, April 5th. Royal Bank of Canada reduced their price objective on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Finally, Barclays cut their target price on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.77.

Snowflake Trading Down 0.9 %

Shares of SNOW traded down $1.37 during mid-day trading on Wednesday, reaching $157.72. The company’s stock had a trading volume of 2,624,551 shares, compared to its average volume of 6,272,443. Snowflake Inc. has a 1-year low of $138.40 and a 1-year high of $237.72. The stock has a market cap of $52.71 billion, a P/E ratio of -61.87 and a beta of 0.90. The business has a 50-day simple moving average of $160.35 and a two-hundred day simple moving average of $179.27.

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

Insider Activity at Snowflake

In related news, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the transaction, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank Slootman sold 86,078 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the completion of the transaction, the chief executive officer now owns 180,143 shares in the company, valued at approximately $40,555,593.59. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock valued at $31,585,640 over the last ninety days. 8.30% of the stock is owned by corporate insiders.

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.