Asset Management One Co. Ltd. Acquires 1,590 Shares of Snowflake Inc. (NYSE:SNOW)

Asset Management One Co. Ltd. grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,815 shares of the company's stock after acquiring an additional 1,590 shares during the period. Asset Management One Co. Ltd.'s holdings in Snowflake were worth $17,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SNOW. Brighton Jones LLC grew its position in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after buying an additional 29,320 shares during the period. Principal Financial Group Inc. grew its position in shares of Snowflake by 60.0% during the 4th quarter. Principal Financial Group Inc. now owns 109,230 shares of the company's stock worth $16,866,000 after buying an additional 40,979 shares during the period. First Horizon Advisors Inc. grew its position in shares of Snowflake by 21.1% during the 4th quarter. First Horizon Advisors Inc. now owns 621 shares of the company's stock worth $96,000 after buying an additional 108 shares during the period. Howard Capital Management Inc. acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $278,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $38,000. 65.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SNOW shares. BTIG Research reiterated a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Macquarie lifted their price target on shares of Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. DA Davidson restated a "buy" rating and set a $250.00 price objective on shares of Snowflake in a report on Wednesday, June 4th. Oppenheimer restated an "outperform" rating on shares of Snowflake in a report on Tuesday. Finally, KeyCorp restated an "overweight" rating on shares of Snowflake in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $225.22.

Snowflake Trading Up 0.2%

NYSE:SNOW traded up $0.53 during mid-day trading on Friday, hitting $222.45. 4,922,994 shares of the company's stock were exchanged, compared to its average volume of 6,109,963. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $225.68. The company has a 50 day simple moving average of $189.12 and a 200-day simple moving average of $173.05. The firm has a market capitalization of $74.27 billion, a P/E ratio of -52.84 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $0.14 EPS. The company's revenue was up 25.8% compared to the same quarter last year. As a group, research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity

In other news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at $60,090,389.60. This trade represents a 57.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 622,903 shares of company stock worth $127,235,701 in the last quarter. 6.80% of the stock is owned by corporate insiders.

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.