Sumitomo Mitsui DS Asset Management Company Ltd Reduces Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,329 shares of the company’s stock after selling 3,187 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Snowflake were worth $8,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Groupama Asset Managment acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $25,000. Perkins Coie Trust Co boosted its holdings in Snowflake by 136.3% during 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 in the last quarter. Geneos Wealth Management Inc. grew its position in Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after buying an additional 230 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Snowflake in the fourth quarter valued at $38,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Snowflake in the third quarter worth about $30,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNOW. Needham & Company LLC raised their target price on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.06.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the sale, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 516,933 shares of company stock valued at $88,283,752 over the last 90 days. 7.80% of the stock is owned by insiders.

Snowflake Stock Performance

NYSE SNOW opened at $183.87 on Friday. The stock has a fifty day simple moving average of $170.61 and a 200-day simple moving average of $139.19. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market cap of $60.70 billion, a PE ratio of -54.24 and a beta of 1.07. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

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.