Daiwa Securities Group Inc. Has $3.07 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Daiwa Securities Group Inc. trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 97.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,756 shares of the company’s stock after selling 1,238,611 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Snowflake were worth $3,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Comerica Bank raised its holdings in shares of Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Snowflake by 23.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after buying an additional 43,062 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Snowflake by 201.5% in the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after buying an additional 42,563 shares during the last quarter. Fulton Bank N.A. increased its holdings in shares of Snowflake by 17.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after acquiring an additional 228 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Snowflake by 77.0% in the 2nd quarter. SG Americas Securities LLC now owns 133,186 shares of the company’s stock valued at $17,992,000 after acquiring an additional 57,960 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday. Evercore ISI boosted their price objective on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Citigroup lowered their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Finally, JMP Securities cut their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a report on Thursday, August 22nd. Two equities research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.09.

Insider Activity at Snowflake

In other news, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at $4,667,476.32. This trade represents a 6.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. The trade was a 0.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,661 shares of company stock valued at $32,004,752. 7.80% of the stock is owned by insiders.

Snowflake Stock Up 1.4 %

SNOW opened at $173.62 on Thursday. The company has a fifty day simple moving average of $123.68 and a 200 day simple moving average of $128.32. The stock has a market cap of $58.20 billion, a P/E ratio of -51.22 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

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.