Huntington National Bank Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Huntington National Bank boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 40.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 978 shares of the company’s stock after buying an additional 284 shares during the quarter. Huntington National Bank’s holdings in Snowflake were worth $151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Snowflake in the 4th quarter valued at about $988,950,000. GQG Partners LLC purchased a new position in Snowflake in the fourth quarter valued at approximately $750,572,000. Jennison Associates LLC raised its holdings in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. Groupama Asset Managment lifted its position in shares of Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after buying an additional 1,999,785 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Snowflake by 1,303.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,719,704 shares of the company’s stock valued at $265,539,000 after buying an additional 1,597,148 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $130.41 on Friday. The firm has a market capitalization of $43.05 billion, a PE ratio of -38.47 and a beta of 1.13. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business has a 50-day moving average of $168.97 and a two-hundred day moving average of $152.40.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNOW. Macquarie started coverage on shares of Snowflake in a research report on Wednesday. They issued a “neutral” rating and a $160.00 price target for the company. Canaccord Genuity Group upped their target price on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Rosenblatt Securities lifted their price target on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, Needham & Company LLC lifted their target price on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

Insider Buying and Selling

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 7,908 shares of Snowflake stock in a transaction on Friday, March 21st. The stock was sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the sale, the executive vice president now directly owns 600,632 shares in the company, valued at $92,899,751.44. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,186 shares of company stock valued at $82,353,709. 7.80% of the stock is currently owned by corporate insiders.

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.