M&T Bank Corp cut its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 21.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,615 shares of the company's stock after selling 3,675 shares during the quarter. M&T Bank Corp's holdings in Snowflake were worth $1,564,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. LRI Investments LLC boosted its stake in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company's stock valued at $25,000 after acquiring an additional 112 shares during the last quarter. Groupama Asset Managment bought a new position in shares of Snowflake during the third quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the second quarter worth about $27,000. V Square Quantitative Management LLC bought a new stake in Snowflake in the third quarter valued at about $30,000. Finally, Fortitude Family Office LLC acquired a new stake in Snowflake during the third quarter valued at approximately $34,000. 65.10% of the stock is owned by institutional investors and hedge funds.
Shares of SNOW opened at $167.67 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm's 50 day moving average is $138.94 and its 200-day moving average is $129.66. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The stock has a market capitalization of $55.35 billion, a P/E ratio of -49.46 and a beta of 1.03.
In other news, insider Benoit Dageville sold 287 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company's stock, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Christopher William Degnan sold 76,692 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the transaction, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 294,384 shares of company stock valued at $47,993,609 in the last three months. 7.80% of the stock is currently owned by corporate insiders.
Several research analysts have recently commented on SNOW shares. Stifel Nicolaus decreased their target price on Snowflake from $200.00 to $168.00 and set a "buy" rating for the company in a research report on Monday, August 19th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $180.00 price objective on shares of Snowflake in a report on Tuesday, November 19th. DA Davidson reissued a "buy" rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Wedbush raised shares of Snowflake from a "neutral" rating to an "outperform" rating and set a $190.00 price target for the company in a report on Monday, November 25th. Finally, Bank of America boosted their price objective on shares of Snowflake from $160.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and a consensus target price of $183.89.
Check Out Our Latest Stock Analysis on SNOW
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.
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