Asset Management One Co. Ltd. Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Asset Management One Co. Ltd. lifted its stake in Snowflake Inc. (NYSE:SNOW) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,815 shares of the company’s stock after purchasing an additional 1,590 shares during the period. Asset Management One Co. Ltd.’s holdings in Snowflake were worth $17,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SNOW. Brighton Jones LLC lifted its position in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the period. Principal Financial Group Inc. lifted its position in shares of Snowflake by 60.0% in the 4th quarter. Principal Financial Group Inc. now owns 109,230 shares of the company’s stock worth $16,866,000 after purchasing an additional 40,979 shares during the period. First Horizon Advisors Inc. lifted its position in Snowflake by 21.1% during the 4th quarter. First Horizon Advisors Inc. now owns 621 shares of the company’s stock valued at $96,000 after acquiring an additional 108 shares during the period. Howard Capital Management Inc. purchased a new position in Snowflake during the 4th quarter valued at about $278,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Snowflake during the 4th quarter valued at about $38,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $221.79 on Thursday. The firm has a 50 day moving average of $187.55 and a 200 day moving average of $172.77. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $74.05 billion, a price-to-earnings ratio of -52.68 and a beta of 1.21. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $225.68.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 earnings per share. On average, research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 5,027 shares of Snowflake stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the transaction, the chief accounting officer now owns 40,608 shares of the company’s stock, valued at $8,083,428.48. The trade was a 11.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now directly 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. Insiders have sold 597,248 shares of company stock valued at $121,549,799 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNOW. Barclays reissued an “overweight” rating and set a $219.00 price target (up from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. CICC Research began coverage on shares of Snowflake in a research report on Friday, June 20th. They set an “outperform” rating and a $225.00 price target for the company. Sanford C. Bernstein reissued a “market perform” rating on shares of Snowflake in a research report on Thursday, May 22nd. BTIG Research reissued a “buy” rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $205.00 price target on shares of Snowflake in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.22.

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.