Nomura Asset Management Co. Ltd. Buys 94,433 Shares of Snowflake Inc. (NYSE:SNOW)

Nomura Asset Management Co. Ltd. increased its stake in Snowflake Inc. (NYSE:SNOW) by 111.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,133 shares of the company’s stock after purchasing an additional 94,433 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.05% of Snowflake worth $27,660,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Groupama Asset Managment purchased a new position in shares of Snowflake in the 3rd quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in Snowflake in the fourth quarter valued at about $29,000. Blue Bell Private Wealth Management LLC boosted its position in Snowflake by 189.5% in the fourth 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 boosted 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 purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Snowflake during the 4th quarter valued at about $38,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 4.1 %

Shares of SNOW stock opened at $150.60 on Friday. The company has a market cap of $49.71 billion, a PE ratio of -44.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock’s 50 day simple moving average is $171.99 and its two-hundred day simple moving average is $151.30. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada lifted their price target on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Thursday, February 20th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Finally, Evercore ISI boosted their price target on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $205.08.

Insider Activity

In other news, Director Frank Slootman sold 1,783 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the sale, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 603,968 shares of company stock valued at $99,863,550. 7.80% of the stock is currently owned by insiders.

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.