PNC Financial Services Group Inc. Has $2.58 Million Position in Snowflake Inc. (NYSE:SNOW)

PNC Financial Services Group Inc. raised its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,715 shares of the company’s stock after buying an additional 465 shares during the period. PNC Financial Services Group Inc.’s holdings in Snowflake were worth $2,581,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Groupama Asset Managment acquired a new stake in shares of Snowflake during the 3rd quarter valued at $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at $29,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. Perkins Coie Trust Co lifted its stake in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Snowflake in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW opened at $156.41 on Friday. The firm has a market cap of $51.63 billion, a PE ratio of -46.14 and a beta of 1.07. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. 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 company’s 50-day moving average price is $173.24 and its two-hundred day moving average price is $147.87.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SNOW shares. Scotiabank lifted their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Bank of America lifted their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Mizuho lifted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Loop Capital lifted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One 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’s stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the transaction, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 297,391 shares of company stock worth $50,053,371 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Company 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.