Snowflake Inc. $SNOW Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 732,092 shares of the company’s stock after acquiring an additional 8,002 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Snowflake were worth $165,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coastline Trust Co increased its position in shares of Snowflake by 1.0% during the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock valued at $943,000 after purchasing an additional 42 shares during the period. Capital Advantage Inc. grew its holdings in Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after acquiring an additional 48 shares during the period. Wedbush Securities Inc. raised its position in Snowflake by 1.3% in the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after acquiring an additional 48 shares in the last quarter. Avion Wealth lifted its holdings in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares during the last quarter. Finally, CX Institutional boosted its position in shares of Snowflake by 13.2% during the 3rd quarter. CX Institutional now owns 421 shares of the company’s stock valued at $95,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $230.65, for a total value of $11,610,459.70. Following the transaction, the director owned 32,756 shares in the company, valued at $7,555,171.40. This represents a 60.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $221.83, for a total transaction of $44,366,000.00. Following the sale, the director owned 50,329 shares of the company’s stock, valued at approximately $11,164,482.07. This represents a 79.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 418,681 shares of company stock worth $96,073,145. Insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $220.14 on Tuesday. The company’s fifty day moving average is $237.57 and its two-hundred day moving average is $229.14. The company has a market cap of $75.33 billion, a P/E ratio of -54.49 and a beta of 1.14. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.Snowflake’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on SNOW. Mizuho boosted their target price on shares of Snowflake from $260.00 to $285.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Wednesday, November 26th. Argus upgraded Snowflake from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Thursday, January 8th. JMP Securities raised their price objective on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 28th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $237.00 target price on shares of Snowflake in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $275.58.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.