84,352 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 84,352 shares of the company's stock, valued at approximately $13,070,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SNOW. Norges Bank acquired a new stake in Snowflake during the fourth quarter valued at $988,950,000. GQG Partners LLC acquired a new stake in Snowflake in the fourth quarter valued at approximately $750,572,000. Jennison Associates LLC grew its position in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Groupama Asset Managment increased its stake 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 purchasing an additional 1,999,785 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Snowflake by 1,303.2% during 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 purchasing an additional 1,597,148 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Stock Down 1.3 %

SNOW stock traded down $1.90 during mid-day trading on Friday, reaching $142.55. The company had a trading volume of 1,197,306 shares, compared to its average volume of 6,430,192. The company has a market capitalization of $47.06 billion, a price-to-earnings ratio of -42.18 and a beta of 1.13. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The stock has a 50 day simple moving average of $164.05 and a two-hundred day simple moving average of $153.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent analyst reports. Barclays raised their price objective on Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Royal Bank of Canada boosted their price objective on shares of Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Wells Fargo & Company raised their target price on Snowflake from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Wedbush set a $210.00 price objective on Snowflake in a research note on Wednesday, January 22nd. Finally, Daiwa Capital Markets started coverage on shares of Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target for the company. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and an average price target of $201.84.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is owned by corporate insiders.

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.