Snowflake Inc. (NYSE:SNOW) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 3.6% during the fourth quarter, Holdings Channel reports. The fund owned 47,794 shares of the company’s stock after selling 1,776 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Snowflake were worth $9,511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cigna Investments Inc. New increased its stake in Snowflake by 1.6% in the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after purchasing an additional 51 shares during the last quarter. E&G Advisors LP grew its holdings in Snowflake by 3.0% in the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after purchasing an additional 51 shares during the period. Parkside Financial Bank & Trust increased its position in Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Valley National Advisers Inc. raised its stake in Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after purchasing an additional 53 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Snowflake by 5.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock valued at $220,000 after purchasing an additional 61 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNOW. Evercore ISI cut their target price on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. JMP Securities raised their price objective on Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a report on Thursday, February 29th. Barclays dropped their target price on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Thursday, May 2nd. Finally, StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.77.

Insider Buying and Selling at Snowflake

In other news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now owns 354,954 shares in the company, valued at $55,571,598.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the sale, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total value of $2,001,149.92. Following the transaction, the executive now owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,458 shares of company stock worth $31,585,640. 8.30% of the stock is owned by insiders.

Snowflake Trading Down 0.9 %

SNOW traded down $1.37 on Wednesday, hitting $157.72. 2,624,551 shares of the company’s stock were exchanged, compared to its average volume of 6,272,443. The stock has a fifty day moving average of $160.35 and a two-hundred day moving average of $179.27. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72. The firm has a market cap of $52.71 billion, a PE ratio of -61.87 and a beta of 0.90.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. On average, analysts predict that Snowflake Inc. will post -1.9 EPS for the current year.

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.