Snowflake Inc. (NYSE:SNOW) Position Trimmed by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 21.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,615 shares of the company’s stock after selling 3,675 shares during the period. M&T Bank Corp’s holdings in Snowflake were worth $1,564,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Ontario Teachers Pension Plan Board lifted its holdings in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after purchasing an additional 660,168 shares during the last quarter. SG Americas Securities LLC boosted its position in Snowflake by 471.9% during the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in Snowflake by 90.3% during 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. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 294,384 shares of company stock worth $47,993,609. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SNOW. Royal Bank of Canada boosted their price target on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Scotiabank boosted their target price on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Needham & Company LLC raised their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. TD Cowen lifted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Stifel Nicolaus decreased their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.89.

Snowflake Stock Down 1.4 %

SNOW stock opened at $167.67 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. The firm has a market capitalization of $55.35 billion, a P/E ratio of -49.46 and a beta of 1.03. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company’s 50 day simple moving average is $138.94 and its 200-day simple moving average is $129.66.

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.