Bangor Savings Bank Sells 9,121 Shares of Snowflake Inc. (NYSE:SNOW)

Bangor Savings Bank cut its stake in Snowflake Inc. (NYSE:SNOW) by 92.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 747 shares of the company’s stock after selling 9,121 shares during the period. Bangor Savings Bank’s holdings in Snowflake were worth $115,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SNOW. Groupama Asset Managment acquired a new position in Snowflake during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake in the 3rd quarter valued at $30,000. Fortitude Family Office LLC acquired a new position in shares of Snowflake during the 3rd quarter worth $34,000. Larson Financial Group LLC lifted its position in shares of Snowflake by 81.3% during the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after buying an additional 152 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new stake in Snowflake in the third quarter valued at about $40,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup dropped their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Oppenheimer restated an “outperform” rating and issued a $180.00 target price on shares of Snowflake in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Barclays boosted their price objective on Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Monness Crespi & Hardt increased their target price on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $187.11.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $158.85 on Wednesday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The stock’s 50 day moving average is $153.71 and its 200-day moving average is $133.22. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $52.44 billion, a price-to-earnings ratio of -46.86 and a beta of 1.05.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,712 shares of the 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 directly owns 205,965 shares of the company’s stock, valued at approximately $36,867,735. This trade represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 406,904 shares of company stock worth $66,145,855. 7.80% of the stock is owned by corporate insiders.

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.