Snowflake Inc. $SNOW Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 15.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 351,194 shares of the company’s stock after acquiring an additional 46,678 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.11% of Snowflake worth $78,587,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in SNOW. Capital Advantage Inc. increased its holdings in shares of Snowflake by 1.1% in the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after purchasing an additional 48 shares in the last quarter. Wedbush Securities Inc. grew its position in Snowflake by 1.3% during the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after buying an additional 48 shares during the period. Avion Wealth grew its position in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the period. Ignite Planners LLC increased its holdings in Snowflake by 2.3% in the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after buying an additional 64 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its position in shares of Snowflake by 4.2% during the 2nd quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock valued at $359,000 after acquiring an additional 64 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This represents a 4.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction on Friday, September 5th. The shares were sold at an average price of $224.85, for a total value of $11,318,499.30. Following the completion of the sale, the director directly owned 35,276 shares of the company’s stock, valued at approximately $7,931,808.60. This represents a 58.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 880,647 shares of company stock valued at $203,522,973. Insiders own 6.80% of the company’s stock.

Snowflake Trading Down 0.8%

Shares of SNOW stock opened at $262.72 on Monday. The firm has a 50-day moving average price of $240.55 and a 200 day moving average price of $215.54. Snowflake Inc. has a twelve month low of $119.66 and a twelve month high of $280.67. The company has a market capitalization of $89.01 billion, a price-to-earnings ratio of -63.31 and a beta of 1.23. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. Research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SNOW. Truist Financial upped their price target on Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Piper Sandler boosted their target price on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Royal Bank Of Canada raised their price target on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Cantor Fitzgerald lifted their price target on Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Finally, Wells Fargo & Company initiated coverage on shares of Snowflake in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $275.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.95.

Snowflake 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.