Sunbelt Securities Inc. Buys 142 Shares of Snowflake Inc. (NYSE:SNOW)

Sunbelt Securities Inc. raised its holdings in Snowflake Inc. (NYSE:SNOW) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,535 shares of the company’s stock after purchasing an additional 142 shares during the quarter. Sunbelt Securities Inc.’s holdings in Snowflake were worth $636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. State Street Corp increased its position in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after buying an additional 54,909 shares in the last quarter. Geode Capital Management LLC boosted its position in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Two Sigma Advisers LP raised its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 3,029 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $346,487.31. Following the transaction, the executive vice president now directly owns 753,464 shares of the company’s stock, valued at approximately $86,188,746.96. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 1,712 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $306,448.00. Following the completion of the sale, the director now owns 205,965 shares of the company’s stock, valued at $36,867,735. The trade was a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 294,384 shares of company stock valued at $47,993,609 in the last quarter. Insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNOW. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Royal Bank of Canada lifted 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. Mizuho upped their price objective on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Two 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.89.

Snowflake Stock Down 1.2 %

Shares of NYSE SNOW opened at $169.98 on Friday. The business has a 50-day moving average of $137.88 and a 200-day moving average of $129.73. The firm has a market capitalization of $56.11 billion, a price-to-earnings ratio of -50.14 and a beta of 1.03. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

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.