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

Bangor Savings Bank trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 92.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board raised its stake in shares of Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the period. Two Sigma Advisers LP raised its stake in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the period. AQR Capital Management LLC lifted its holdings in Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Snowflake by 471.9% during the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Snowflake by 90.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after purchasing an additional 600,469 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 2.6 %

Shares of SNOW stock opened at $158.85 on Wednesday. The business has a 50-day moving average of $153.71 and a 200 day moving average of $133.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a market capitalization of $52.44 billion, a PE ratio of -46.86 and a beta of 1.05.

Analyst Ratings Changes

A number of analysts recently commented on SNOW shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price target on shares of Snowflake in a report on Thursday, November 21st. Bank of America boosted their price objective on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Loop Capital raised their target price on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Royal Bank of Canada upped their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $187.11.

Insider Activity

In other news, Director Frank Slootman sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the business’s stock in a transaction dated 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 owns 346,741 shares in the company, valued at approximately $58,398,119.22. This represents a 18.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 406,904 shares of company stock valued at $66,145,855. 7.80% of the stock is currently owned by company 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.