Truist Financial Corp Decreases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Truist Financial Corp trimmed its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 50.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,094 shares of the company's stock after selling 26,389 shares during the period. Truist Financial Corp's holdings in Snowflake were worth $5,193,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Kovack Advisors Inc. lifted its position in shares of Snowflake by 53.8% during the 4th quarter. Kovack Advisors Inc. now owns 4,679 shares of the company's stock worth $931,000 after buying an additional 1,637 shares during the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of Snowflake by 8.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 9,068 shares of the company's stock worth $1,805,000 after buying an additional 697 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Snowflake by 54.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 13,417 shares of the company's stock valued at $2,670,000 after acquiring an additional 4,747 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Snowflake by 7.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 160,491 shares of the company's stock valued at $31,938,000 after acquiring an additional 10,987 shares during the last quarter. Finally, Syon Capital LLC bought a new stake in Snowflake during the 4th quarter worth $296,000. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Grzegorz Czajkowski sold 683 shares of the business's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the transaction, the executive vice president now owns 86,208 shares of the company's stock, valued at $13,915,695.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares of the company's stock, valued at $13,915,695.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the firm's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total value of $2,001,149.92. Following the completion of the sale, the executive now directly owns 354,954 shares in the company, valued at approximately $55,571,598.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,458 shares of company stock valued at $31,585,640. Corporate insiders own 8.30% of the company's stock.

Snowflake Stock Performance

NYSE SNOW traded up $4.38 during trading on Monday, hitting $163.70. 3,190,729 shares of the company's stock traded hands, compared to its average volume of 6,333,980. The stock has a market capitalization of $54.71 billion, a price-to-earnings ratio of -64.20 and a beta of 0.90. The business has a 50 day moving average of $161.85 and a 200-day moving average of $179.19. Snowflake Inc. has a 12-month low of $138.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, analysts expect that Snowflake Inc. will post -1.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SNOW. Redburn Atlantic reissued a "sell" rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. KeyCorp initiated coverage on shares of Snowflake in a research note on Thursday, April 11th. They issued an "overweight" rating and a $185.00 price objective on the stock. Macquarie raised Snowflake from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Morgan Stanley reissued an "equal weight" rating and issued a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Finally, Guggenheim raised Snowflake from a "sell" rating to a "neutral" rating in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $202.77.

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.