Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,176 shares of the company's stock after buying an additional 24,493 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.08% of Snowflake worth $43,341,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its holdings in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock worth $4,276,000 after purchasing an additional 7,239 shares in the last quarter. Prospect Financial Services LLC bought a new position in Snowflake in the 4th quarter valued at about $288,000. Sumitomo Mitsui Trust Group Inc. raised its position in Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after purchasing an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC bought a new stake in shares of Snowflake during the 4th quarter worth $5,851,000. Finally, Stephens Consulting LLC lifted its holdings in shares of Snowflake by 7,407.4% in the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock worth $313,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 65.10% of the company's stock.
Insider Activity at Snowflake
In related news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now directly owns 311,999 shares of the company's stock, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 503,968 shares of company stock worth $84,363,550. Insiders own 7.80% of the company's stock.
Snowflake Trading Up 2.3 %
Shares of NYSE SNOW traded up $3.40 during trading on Tuesday, hitting $149.56. 3,422,362 shares of the company were exchanged, compared to its average volume of 6,369,463. The company has a fifty day moving average price of $171.49 and a 200-day moving average price of $151.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Monness Crespi & Hardt boosted their price target on Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Loop Capital lifted their price objective on Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Cantor Fitzgerald increased their target price on shares of Snowflake from $201.00 to $228.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Wells Fargo & Company increased their price target on Snowflake from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Oppenheimer lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average target price of $204.14.
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Snowflake Company Profile
(
Free Report)
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.
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