Centaurus Financial Inc. Grows Holdings in Snowflake Inc. (NYSE:SNOW)

Centaurus Financial Inc. raised its position in Snowflake Inc. (NYSE:SNOW) by 8.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,159 shares of the company’s stock after buying an additional 582 shares during the period. Centaurus Financial Inc.’s holdings in Snowflake were worth $822,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SNOW. Comerica Bank grew its stake in Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after buying an additional 43,062 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after buying an additional 42,563 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Snowflake in the first quarter worth $29,000. Finally, Fulton Bank N.A. raised its holdings in Snowflake by 17.4% in the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after acquiring an additional 228 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SNOW. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Wedbush raised Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Monday. TD Cowen increased their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Evercore ISI boosted their price target on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Citigroup reduced their price objective on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.09.

Insiders Place Their Bets

In other news, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. The trade was a 18.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 45,896 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares in the company, valued at $36,749,884.10. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,126 shares of company stock worth $28,058,461 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

SNOW stock opened at $171.60 on Tuesday. The firm has a 50 day simple moving average of $121.23 and a 200 day simple moving average of $127.91. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The stock has a market cap of $57.52 billion, a P/E ratio of -50.62 and a beta of 0.83.

Snowflake 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.