11,000 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Mitsubishi UFJ Asset Management UK Ltd.

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. acquired 11,000 shares of Snowflake Inc., valued at approximately $1,608,000, during the first quarter.
• Institutional investors and hedge funds together own 65.10% of Snowflake's stock, indicating significant institutional interest in the company.
• Snowflake's stock has seen a remarkable rise, with a 12-month high of $229.27 and recent earnings surpassing analysts' expectations, reporting revenue growth of 25.8% year-over-year.

Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,000 shares of the company's stock, valued at approximately $1,608,000.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after purchasing an additional 29,320 shares during the period. Sagespring Wealth Partners LLC bought a new position in Snowflake during the fourth quarter worth about $417,000. Mariner LLC boosted its holdings in shares of Snowflake by 1.3% during the fourth quarter. Mariner LLC now owns 243,525 shares of the company's stock worth $37,603,000 after acquiring an additional 3,159 shares during the period. Belpointe Asset Management LLC boosted its holdings in shares of Snowflake by 7.5% during the fourth quarter. Belpointe Asset Management LLC now owns 2,629 shares of the company's stock worth $406,000 after acquiring an additional 183 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in shares of Snowflake by 28.2% during the fourth quarter. Guggenheim Capital LLC now owns 133,710 shares of the company's stock worth $20,646,000 after acquiring an additional 29,442 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of research analyst reports. Citigroup restated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Cantor Fitzgerald boosted their price target on Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, June 5th. Loop Capital boosted their price objective on shares of Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $226.32.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $216.00, for a total transaction of $2,160,000.00. Following the sale, the executive vice president directly owned 537,336 shares in the company, valued at $116,064,576. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 1,146 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total transaction of $249,530.04. Following the sale, the director owned 4,474 shares in the company, valued at $974,168.76. The trade was a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,014,642 shares of company stock valued at $657,325,186 in the last ninety days. Corporate insiders own 6.80% of the company's stock.

Snowflake Stock Up 2.0%

Shares of SNOW stock opened at $196.91 on Thursday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $229.27. The stock has a market cap of $65.74 billion, a P/E ratio of -46.77 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a 50 day simple moving average of $213.04 and a two-hundred day simple moving average of $184.30.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the company earned $0.14 earnings per share. The firm's revenue was up 25.8% on a year-over-year basis. On average, research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.

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