Synovus Financial Corp Sells 4,743 Shares of Snowflake Inc. (NYSE:SNOW)

Synovus Financial Corp trimmed its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 78.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,334 shares of the company's stock after selling 4,743 shares during the quarter. Synovus Financial Corp's holdings in Snowflake were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the fourth quarter worth about $29,000. Quadrant Capital Group LLC raised its holdings in shares of Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the period. Blue Bell Private Wealth Management LLC grew its holdings in Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after purchasing an additional 144 shares during the period. Perkins Coie Trust Co increased its position in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after buying an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Snowflake in the fourth quarter valued at $38,000. Institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SNOW shares. Piper Sandler lowered their price objective on Snowflake from $215.00 to $175.00 and set an "overweight" rating on the stock in a research note on Wednesday. Evercore ISI boosted their price target on shares of Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Truist Financial cut their price objective on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a report on Monday, March 31st. Macquarie assumed coverage on Snowflake in a research report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 target price on the stock. Finally, Barclays lifted their price target on Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $200.27.

Insider Transactions at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 364,342 shares of company stock worth $59,978,513. 7.80% of the stock is currently owned by insiders.

Snowflake Trading Up 5.5 %

NYSE:SNOW traded up $7.74 during mid-day trading on Wednesday, reaching $147.97. 4,490,267 shares of the company's stock traded hands, compared to its average volume of 6,404,969. The company has a 50 day moving average price of $157.00 and a 200-day moving average price of $155.02. The firm has a market capitalization of $48.85 billion, a price-to-earnings ratio of -43.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

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.