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

Synovus Financial Corp boosted its stake 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 firm owned 6,077 shares of the company’s stock after buying an additional 1,352 shares during the period. Synovus Financial Corp’s holdings in Snowflake were worth $698,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNOW. DA Davidson reiterated a “buy” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, October 3rd. Canaccord Genuity Group decreased their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird cut their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, KeyCorp boosted their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $184.46.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares in the company, valued at approximately $124,515,900. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 283,158 shares of company stock worth $46,709,467. 7.80% of the stock is owned by insiders.

Snowflake Stock Performance

Shares of SNOW opened at $170.83 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $56.39 billion, a PE ratio of -50.39 and a beta of 1.03. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a fifty day moving average price of $141.26 and a 200-day moving average price of $130.00.

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.