Sumitomo Mitsui DS Asset Management Company Ltd Has $7.91 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 3.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,114 shares of the company's stock after purchasing an additional 1,785 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Snowflake were worth $7,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the first quarter valued at $26,000. CVA Family Office LLC boosted its position in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares during the period. West Paces Advisors Inc. purchased a new position in Snowflake during the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake in the 4th quarter valued at about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $212.00 price objective (up previously from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. Sanford C. Bernstein reissued a "market perform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Robert W. Baird boosted their target price on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Bank of America raised their price target on Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $225.36.

Insider Transactions at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $211.35, for a total transaction of $10,638,936.30. Following the completion of the transaction, the director owned 37,796 shares in the company, valued at approximately $7,988,184.60. The trade was a 57.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 424,852 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the sale, the director owned 165,507 shares in the company, valued at approximately $36,303,960.45. This trade represents a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,876,557 shares of company stock valued at $403,565,119. Corporate insiders own 6.80% of the company's stock.

Snowflake Trading Up 1.7%

SNOW stock traded up $3.79 during midday trading on Friday, reaching $221.13. The company's stock had a trading volume of 2,761,777 shares, compared to its average volume of 6,054,199. The business's 50-day simple moving average is $196.60 and its 200-day simple moving average is $174.76. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $225.68. The stock has a market cap of $73.83 billion, a PE ratio of -52.52 and a beta of 1.22.

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