M&T Bank Corp Boosts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

M&T Bank Corp grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,932 shares of the company’s stock after buying an additional 2,317 shares during the quarter. M&T Bank Corp’s holdings in Snowflake were worth $2,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the fourth quarter valued at approximately $29,000. Groupama Asset Managment purchased a new stake in shares of Snowflake during the third quarter valued at approximately $25,000. Perkins Coie Trust Co lifted its position in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Geneos Wealth Management Inc. lifted its position in Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after purchasing an additional 230 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in Snowflake during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the transaction, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 297,193 shares of company stock valued at $50,096,313. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research analyst reports. Monness Crespi & Hardt increased their price objective on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Citigroup increased their price objective on shares of Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Oppenheimer increased their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Stock Performance

SNOW opened at $158.54 on Friday. The stock has a market capitalization of $52.33 billion, a price-to-earnings ratio of -46.77 and a beta of 1.07. The company has a fifty day moving average of $173.79 and a 200 day moving average of $147.00. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

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.