Snowflake Inc. (NYSE:SNOW) Stock Position Lifted by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 5.8% during the 4th quarter, HoldingsChannel reports. The fund owned 684,632 shares of the company’s stock after acquiring an additional 37,515 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Snowflake were worth $136,242,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cigna Investments Inc. New grew its position in Snowflake by 1.6% in the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after acquiring an additional 51 shares in the last quarter. E&G Advisors LP increased its position in Snowflake by 3.0% during the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after buying an additional 51 shares during the last quarter. Valley National Advisers Inc. raised its holdings in Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after buying an additional 53 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of Snowflake by 5.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock worth $220,000 after buying an additional 61 shares during the last quarter. Finally, Kingfisher Capital LLC lifted its position in shares of Snowflake by 0.4% in the third quarter. Kingfisher Capital LLC now owns 14,745 shares of the company’s stock worth $2,253,000 after buying an additional 63 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the sale, the senior vice president now directly owns 726,567 shares in the company, valued at approximately $167,110,410. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the transaction, the senior vice president now owns 726,567 shares in the company, valued at approximately $167,110,410. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction on Monday, March 25th. The stock was bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the transaction, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 179,055 shares of company stock worth $36,633,917. Insiders own 8.30% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $152.01 on Tuesday. Snowflake Inc. has a 52-week low of $135.26 and a 52-week high of $237.72. The business has a fifty day moving average of $183.70 and a two-hundred day moving average of $179.49. The stock has a market cap of $50.80 billion, a PE ratio of -59.61 and a beta of 0.91.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Analysts predict that Snowflake Inc. will post -1.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SNOW shares. Canaccord Genuity Group reissued a “buy” rating and issued a $230.00 price objective on shares of Snowflake in a research note on Thursday, February 29th. Needham & Company LLC decreased their price objective on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, February 29th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus cut their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Bank of America decreased their price target on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

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.