Mitsubishi UFJ Trust & Banking Corp Sells 3,623 Shares of Snowflake Inc. (NYSE:SNOW)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,830 shares of the company's stock after selling 3,623 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Snowflake were worth $20,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake during the 4th quarter valued at $29,000. Groupama Asset Managment bought a new stake in Snowflake during the third quarter valued at $25,000. Blue Bell Private Wealth Management LLC grew its position in Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after buying an additional 144 shares in the last quarter. Perkins Coie Trust Co increased its stake in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Snowflake by 1,437.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock valued at $38,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 685 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares of the company's stock, valued at approximately $91,673,243.64. This trade represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the business'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 sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 503,968 shares of company stock worth $84,363,550 over the last ninety days. 7.80% of the stock is owned by corporate insiders.

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Snowflake Stock Up 2.3 %

Snowflake stock traded up $3.40 during trading hours on Tuesday, hitting $149.56. 3,422,362 shares of the stock traded hands, compared to its average volume of 6,379,003. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a market cap of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07. The firm's 50-day moving average price is $171.02 and its two-hundred day moving average price is $152.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analysts Set New Price Targets

Several research firms recently weighed in on SNOW. Monness Crespi & Hardt upped their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. JMP Securities reissued a "market outperform" rating and issued a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Bank of America raised their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Loop Capital upped their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Royal Bank of Canada raised their price target on Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $204.14.

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.