Citizens Financial Group Inc. RI Acquires New Shares in Snowflake Inc. (NYSE:SNOW)

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

Several other institutional investors also recently modified their holdings of the stock. Commerce Bank boosted its stake in Snowflake by 0.8% during the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after acquiring an additional 51 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Snowflake by 0.5% during the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after purchasing an additional 70 shares in the last quarter. Covestor Ltd grew its position in shares of Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares during the period. IAM Advisory LLC raised its holdings in Snowflake by 2.0% during the 1st quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after buying an additional 74 shares during the period. Finally, Joseph P. Lucia & Associates LLC boosted its holdings in shares of Snowflake by 2.6% in the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock valued at $478,000 after buying an additional 75 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Frank Slootman sold 1,606 shares of the business’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 sale, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the sale, the chief accounting officer now directly owns 30,613 shares in the company, valued at $3,991,629.07. The disclosure for this sale can be found here. Insiders sold a total of 512,262 shares of company stock worth $63,340,261 over the last three months. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SNOW shares. Royal Bank of Canada reduced their target price on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. TD Cowen decreased their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. UBS Group cut their price target on shares of Snowflake from $171.00 to $155.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Finally, Jefferies Financial Group lowered their price objective on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.03.

Snowflake Stock Performance

SNOW opened at $113.67 on Monday. The firm has a market cap of $38.10 billion, a P/E ratio of -40.60 and a beta of 0.83. The business’s fifty day moving average is $123.48 and its 200-day moving average is $141.48. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the firm earned ($0.52) EPS. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, research analysts predict that Snowflake Inc. will post -2.42 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.