Cullen Frost Bankers Inc. Lowers Stake in Snowflake Inc. (NYSE:SNOW)

Cullen Frost Bankers Inc. lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,615 shares of the company’s stock after selling 3,829 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Snowflake were worth $5,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Groupama Asset Managment bought a new position in shares of Snowflake during the third quarter valued at $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the 4th quarter valued at about $29,000. Perkins Coie Trust Co increased its stake in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Snowflake in the fourth quarter worth about $38,000. Finally, Geneos Wealth Management Inc. raised its holdings in Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,712 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $306,448.00. Following the sale, the director now owns 205,965 shares of the company’s stock, valued at $36,867,735. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 297,193 shares of company stock valued at $50,096,313. 7.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNOW has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Wedbush set a $210.00 target price on Snowflake in a report on Wednesday, January 22nd. UBS Group upped their price target on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Needham & Company LLC lifted their price objective on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Oppenheimer boosted their target price on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Trading Down 12.0 %

SNOW stock opened at $156.10 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The business has a 50 day simple moving average of $173.80 and a two-hundred day simple moving average of $146.71. The company has a market capitalization of $51.53 billion, a price-to-earnings ratio of -46.05 and a beta of 1.07.

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.