Citizens Financial Group Inc. RI Raises Position in Snowflake Inc. (NYSE:SNOW)

Citizens Financial Group Inc. RI grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 13.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 94,597 shares of the company’s stock after purchasing an additional 11,165 shares during the period. Citizens Financial Group Inc. RI’s holdings in Snowflake were worth $10,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SNOW. Ontario Teachers Pension Plan Board boosted its stake in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Swedbank AB bought a new position in shares of Snowflake during the first quarter valued at $258,957,000. AQR Capital Management LLC boosted its position in shares of Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after buying an additional 660,168 shares during the last quarter. SG Americas Securities LLC increased its holdings in Snowflake by 471.9% in the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after buying an additional 628,511 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after buying an additional 600,469 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,061,544 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SNOW shares. Jefferies Financial Group dropped their price target on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. TD Cowen reduced their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Argus started coverage on Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating on the stock. Finally, Canaccord Genuity Group cut their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.59.

Snowflake Price Performance

Shares of Snowflake stock opened at $129.12 on Thursday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a 50 day moving average of $117.82 and a 200 day moving average of $127.89.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period in the prior year, the company earned ($0.52) EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. As a group, analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

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.