Huntington National Bank Buys 135 Shares of Snowflake Inc. (NYSE:SNOW)

Huntington National Bank raised its stake in Snowflake Inc. (NYSE:SNOW) by 24.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 694 shares of the company’s stock after acquiring an additional 135 shares during the quarter. Huntington National Bank’s holdings in Snowflake were worth $80,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC lifted its position in Snowflake by 26.1% in the 1st quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock valued at $230,000 after acquiring an additional 295 shares in the last quarter. Covestor Ltd boosted its position in shares of Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after buying an additional 70 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Snowflake by 21.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock valued at $2,042,000 after buying an additional 2,191 shares during the last quarter. UniSuper Management Pty Ltd grew its holdings in Snowflake by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock worth $646,000 after buying an additional 2,000 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new stake in Snowflake in the 1st quarter valued at $454,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $127.41 on Tuesday. The stock has a fifty day moving average of $117.08 and a 200 day moving average of $128.09. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The firm has a market capitalization of $42.71 billion, a price-to-earnings ratio of -41.64 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.52) earnings per share. Equities analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at $83,511,651.08. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SNOW shares. Wedbush upgraded shares of Snowflake to a “hold” rating in a research note on Thursday, October 17th. Citigroup reduced their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley reissued an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Snowflake in a report on Thursday, August 22nd. Finally, Bank of America dropped their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $171.59.

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.