PNC Financial Services Group Inc. Purchases 465 Shares of Snowflake Inc. (NYSE:SNOW)

PNC Financial Services Group Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.9% in the 4th quarter, Holdings Channel reports. The fund owned 16,715 shares of the company’s stock after acquiring an additional 465 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Snowflake were worth $2,581,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Banco Santander S.A. bought a new stake in shares of Snowflake during the fourth quarter worth $35,248,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after acquiring an additional 69 shares in the last quarter. Machina Capital S.A.S. bought a new stake in shares of Snowflake during the fourth quarter worth $566,000. Value Star Asset Management Hong Kong Ltd acquired a new position in Snowflake during the fourth quarter worth $618,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in Snowflake during the fourth quarter worth $7,629,000. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Loop Capital increased their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Scotiabank increased their target price on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Mizuho increased their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Oppenheimer lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Price Performance

SNOW stock opened at $156.41 on Friday. The company has a 50 day simple moving average of $173.24 and a 200 day simple moving average of $147.87. The stock has a market cap of $51.63 billion, a price-to-earnings ratio of -46.14 and a beta of 1.07. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 6,714 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the transaction, the director now owns 196,454 shares in the company, valued at $33,593,634. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 685 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the transaction, the executive vice president now owns 622,611 shares in the company, valued at approximately $91,673,243.64. The trade was a 0.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 297,391 shares of company stock valued at $50,053,371 in the last ninety days. 7.80% of the stock is currently owned by insiders.

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.