Citizens Financial Group Inc. RI Purchases 11,165 Shares of Snowflake Inc. (NYSE:SNOW)

Citizens Financial Group Inc. RI increased its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,597 shares of the company's stock after acquiring an additional 11,165 shares during the period. Citizens Financial Group Inc. RI's holdings in Snowflake were worth $10,865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. ProShare Advisors LLC increased its position in shares of Snowflake by 26.1% during the 1st quarter. ProShare Advisors LLC now owns 1,424 shares of the company's stock valued at $230,000 after purchasing an additional 295 shares during the last quarter. Covestor Ltd boosted its stake in Snowflake by 25.0% in the first quarter. Covestor Ltd now owns 350 shares of the company's stock valued at $57,000 after acquiring an additional 70 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Snowflake by 21.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company's stock worth $2,042,000 after purchasing an additional 2,191 shares during the last quarter. UniSuper Management Pty Ltd raised its holdings in shares of Snowflake by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company's stock worth $646,000 after purchasing an additional 2,000 shares during the period. Finally, Lake Street Advisors Group LLC purchased a new position in Snowflake in the first quarter valued at approximately $454,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares of the company's stock, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares of the company's stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,538 shares of company stock valued at $7,061,544. Company insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent research reports. Barclays decreased their target price on Snowflake from $191.00 to $146.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. JMP Securities reduced their target price on shares of Snowflake from $235.00 to $190.00 and set a "market outperform" rating for the company in a research note on Thursday, August 22nd. Needham & Company LLC dropped their price target on shares of Snowflake from $210.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $180.00 price objective on shares of Snowflake in a research note on Tuesday. Finally, Jefferies Financial Group dropped their target price on Snowflake from $160.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $171.59.

Snowflake Trading Down 0.9 %

NYSE SNOW opened at $129.12 on Thursday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The stock has a 50 day simple moving average of $117.82 and a two-hundred day simple moving average of $127.89.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm's revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.52) earnings per share. On average, sell-side analysts expect that Snowflake Inc. will post -2.41 earnings per share for the current year.

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.

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