Daiwa Securities Group Inc. Sells 1,238,611 Shares of Snowflake Inc. (NYSE:SNOW)

Daiwa Securities Group Inc. trimmed its position in Snowflake Inc. (NYSE:SNOW) by 97.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,756 shares of the company’s stock after selling 1,238,611 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Snowflake were worth $3,073,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Centaurus Financial Inc. raised its stake in Snowflake by 8.8% in the third quarter. Centaurus Financial Inc. now owns 7,159 shares of the company’s stock valued at $822,000 after buying an additional 582 shares during the period. Larson Financial Group LLC increased its holdings in shares of Snowflake by 81.3% during the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after acquiring an additional 152 shares during the last quarter. Cerity Partners LLC raised its stake in Snowflake by 10.1% in the 3rd quarter. Cerity Partners LLC now owns 53,966 shares of the company’s stock valued at $6,198,000 after acquiring an additional 4,960 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in Snowflake by 27.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 15,005 shares of the company’s stock valued at $1,724,000 after purchasing an additional 3,206 shares during the last quarter. Finally, GM Advisory Group LLC boosted its position in Snowflake by 24.0% during the third quarter. GM Advisory Group LLC now owns 4,418 shares of the company’s stock worth $507,000 after purchasing an additional 854 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 1.4 %

Shares of NYSE SNOW opened at $173.62 on Thursday. The firm’s 50-day moving average price is $123.68 and its 200-day moving average price is $128.32. The firm has a market capitalization of $58.20 billion, a P/E ratio of -51.22 and a beta of 0.83. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Insider Buying and Selling

In related news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 20,514 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total value of $3,595,283.64. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at $36,582,896.10. This trade represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 204,661 shares of company stock valued at $32,004,752. 7.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho raised their price objective on shares of Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. UBS Group lowered their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Robert W. Baird dropped their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. TD Cowen raised their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Evercore ISI upped their price objective on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $181.09.

About Snowflake

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.