Snowflake Inc. (NYSE:SNOW) Stock Holdings Increased by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 9.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,336 shares of the company’s stock after buying an additional 285 shares during the period. Fifth Third Bancorp’s holdings in Snowflake were worth $451,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Commerce Bank lifted its holdings in Snowflake by 0.8% in the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after acquiring an additional 51 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Snowflake by 34.7% in the 4th 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. Park Avenue Securities LLC boosted its position in Snowflake by 0.5% during the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after purchasing an additional 70 shares during the period. Covestor Ltd grew its stake in Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after buying an additional 70 shares during the last quarter. Finally, IAM Advisory LLC increased its position in Snowflake by 2.0% in the first quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several analyst reports. Jefferies Financial Group reduced their price target on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday. TD Cowen reduced their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price target on shares of Snowflake in a report on Monday, July 1st. Canaccord Genuity Group decreased their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday. Finally, Barclays cut their target price on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $176.03.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Snowflake news, EVP Grzegorz Czajkowski sold 469,120 shares of Snowflake stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the sale, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at $60,922,410.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. The disclosure for this sale can be found here. Insiders sold a total of 527,678 shares of company stock valued at $65,491,235 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

Snowflake Trading Up 0.5 %

NYSE SNOW opened at $115.84 on Friday. The company has a market cap of $38.78 billion, a P/E ratio of -41.37 and a beta of 0.85. Snowflake Inc. has a 1 year low of $107.93 and a 1 year high of $237.72. The company has a fifty day simple moving average of $129.74 and a 200 day simple moving average of $154.61.

Snowflake (NYSE:SNOW) last issued 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. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period in the previous year, the company earned ($0.52) earnings per share. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities research analysts forecast that Snowflake Inc. will post -2.31 EPS for the current fiscal 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.