Snowflake Inc. (NYSE:SNOW) Stock Position Cut by BNP Paribas

BNP Paribas lessened its stake in Snowflake Inc. (NYSE:SNOW) by 87.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 820 shares of the company’s stock after selling 5,588 shares during the period. BNP Paribas’ holdings in Snowflake were worth $94,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNOW. LRI Investments LLC grew its position in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Snowflake during the 2nd quarter valued at about $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the 3rd quarter valued at about $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake during the 3rd quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Snowflake during the 2nd quarter valued at about $39,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $173.62 on Thursday. The stock has a market cap of $58.20 billion, a PE ratio of -51.22 and a beta of 0.83. The business has a fifty day moving average of $123.68 and a two-hundred day moving average of $128.32. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Insider Buying and Selling at Snowflake

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

Wall Street Analyst Weigh In

SNOW has been the subject of several research reports. Needham & Company LLC raised their price objective on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Argus initiated coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating for the company. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Scotiabank reduced their price objective on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Bank of America upped their price objective on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.09.

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.