Sumitomo Mitsui Trust Holdings Inc. Grows Position in Snowflake Inc. (NYSE:SNOW)

Sumitomo Mitsui Trust Holdings Inc. raised its position in Snowflake Inc. (NYSE:SNOW) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 684,632 shares of the company’s stock after acquiring an additional 37,515 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.21% of Snowflake worth $136,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC grew its stake in shares of Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after purchasing an additional 135 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Provence Wealth Management Group purchased a new position in shares of Snowflake in the 3rd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its stake in Snowflake by 89.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 4.1 %

Shares of NYSE SNOW opened at $152.01 on Tuesday. The stock has a market capitalization of $50.80 billion, a price-to-earnings ratio of -59.61 and a beta of 0.91. Snowflake Inc. has a 52 week low of $135.26 and a 52 week high of $237.72. The firm has a 50-day moving average price of $183.70 and a 200 day moving average price of $179.49.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Equities research analysts expect that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snowflake news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the transaction, the chief accounting officer now owns 28,393 shares in the company, valued at $4,457,133.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 2,346 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total transaction of $476,894.88. Following the completion of the sale, the executive now directly owns 102,007 shares in the company, valued at approximately $20,735,982.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,055 shares of company stock valued at $36,633,917. 8.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SNOW. Macquarie raised shares of Snowflake from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $182.00 to $205.00 in a report on Thursday, February 29th. Redburn Atlantic reiterated a “sell” rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. JPMorgan Chase & Co. dropped their price objective on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada decreased their target price on Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

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.