Snowflake Inc. (NYSE:SNOW) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 267,176 shares of the company’s stock after purchasing an additional 24,493 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 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 business. Groupama Asset Managment bought a new position in shares of Snowflake in the 3rd quarter worth about $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $29,000. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after purchasing an additional 144 shares during the last quarter. Perkins Coie Trust Co increased its position in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Snowflake in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents 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 accessible through the SEC website. Also, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 603,968 shares of company stock valued at $99,863,550 over the last three months. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on SNOW shares. Jefferies Financial Group increased their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. KeyCorp increased their price objective on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Wells Fargo & Company lifted their target price on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Monness Crespi & Hardt increased their price target on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Truist Financial restated a “buy” rating and set a $225.00 price objective (up from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $205.08.

Snowflake Trading Down 4.1 %

Shares of NYSE SNOW opened at $150.60 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The business has a 50-day moving average price of $171.99 and a two-hundred day moving average price of $151.30. The firm has a market capitalization of $49.71 billion, a PE ratio of -44.42 and a beta of 1.07.

Snowflake Company Profile

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.