Synovus Financial Corp Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

Synovus Financial Corp boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 28.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,077 shares of the company’s stock after purchasing an additional 1,352 shares during the quarter. Synovus Financial Corp’s holdings in Snowflake were worth $698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SNOW. Blue Trust Inc. increased its position in shares of Snowflake by 103.9% during the second quarter. Blue Trust Inc. now owns 524 shares of the company’s stock valued at $71,000 after acquiring an additional 267 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Snowflake by 17.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 127,790 shares of the company’s stock worth $17,263,000 after purchasing an additional 19,324 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Snowflake by 9.3% in the second quarter. Fifth Third Bancorp now owns 3,336 shares of the company’s stock worth $451,000 after purchasing an additional 285 shares during the last quarter. PSI Advisors LLC lifted its holdings in shares of Snowflake by 87.3% during the second quarter. PSI Advisors LLC now owns 429 shares of the company’s stock valued at $58,000 after purchasing an additional 200 shares in the last quarter. Finally, Boothe Investment Group Inc. purchased a new stake in shares of Snowflake during the second quarter valued at $3,691,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Down 1.0 %

Snowflake stock opened at $170.83 on Wednesday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The firm’s 50 day moving average price is $141.26 and its 200-day moving average price is $130.00. 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 stock has a market cap of $56.39 billion, a P/E ratio of -50.39 and a beta of 1.03.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares of the company’s stock, valued at $124,515,900. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 283,158 shares of company stock valued at $46,709,467. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on SNOW shares. Bank of America upped their target price on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, August 22nd. Robert W. Baird decreased their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Piper Sandler reissued an “overweight” rating and set a $185.00 price target on shares of Snowflake in a report on Tuesday. Finally, Wedbush raised Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.46.

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.