Meiji Yasuda Life Insurance Co Has $1.34 Million Position in Snowflake Inc. (NYSE:SNOW)

Meiji Yasuda Life Insurance Co increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 24.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,287 shares of the company’s stock after acquiring an additional 1,620 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Snowflake were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Snowflake by 1.4% during the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after buying an additional 297,428 shares during the last quarter. Jennison Associates LLC increased its holdings in Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after purchasing an additional 249,249 shares in the last quarter. Sands Capital Management LLC raised its position in Snowflake by 12.6% in the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after purchasing an additional 610,970 shares during the last quarter. Norges Bank acquired a new stake in shares of Snowflake during the fourth quarter valued at about $838,455,000. Finally, WCM Investment Management LLC grew its holdings in shares of Snowflake by 0.6% during the first quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock worth $298,644,000 after purchasing an additional 11,677 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of SNOW traded up $1.51 during mid-day trading on Wednesday, reaching $130.39. 5,491,007 shares of the company’s stock traded hands, compared to its average volume of 6,442,053. The stock’s 50-day moving average is $135.57 and its two-hundred day moving average is $163.73. Snowflake Inc. has a 12 month low of $122.60 and a 12 month high of $237.72. The stock has a market cap of $43.65 billion, a P/E ratio of -46.59 and a beta of 0.85.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The business had revenue of $828.71 million for the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. Research analysts predict that Snowflake Inc. will post -2.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Sanford C. Bernstein raised their target price on Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Scotiabank cut their price objective on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 23rd. BNP Paribas upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Thursday, May 2nd. Oppenheimer reiterated an “outperform” rating and set a $220.00 price target on shares of Snowflake in a report on Thursday, May 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.31.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 6,500 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now owns 36,076 shares of the company’s stock, valued at $5,712,995.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Emily Ho sold 6,500 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the sale, the chief accounting officer now directly owns 36,076 shares of the company’s stock, valued at $5,712,995.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The disclosure for this sale can be found here. Insiders sold a total of 520,678 shares of company stock worth $64,962,300 over the last three months. 7.80% of the stock is currently owned by 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.