Snowflake Inc. (NYSE:SNOW) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 666,830 shares of the company's stock after selling 6,885 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of Snowflake worth $97,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new stake in Snowflake during the first quarter worth $898,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Snowflake by 455.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after purchasing an additional 101,806 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Snowflake during the fourth quarter worth $3,088,000. Deutsche Bank AG boosted its position in Snowflake by 26.0% during the fourth quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after purchasing an additional 190,583 shares in the last quarter. Finally, Ardmore Road Asset Management LP purchased a new stake in Snowflake during the fourth quarter worth $18,529,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the executive vice president now owns 590,632 shares in the company, valued at $94,501,120. The trade was a 1.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeremy Burton sold 19,111 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $220.80, for a total value of $4,219,708.80. Following the transaction, the director now owns 3,987 shares of the company's stock, valued at $880,329.60. This represents a 82.74% 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 90 days. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. BTIG Research reiterated a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Macquarie boosted their target price on Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. JMP Securities reiterated a "market outperform" rating and set a $245.00 target price on shares of Snowflake in a research report on Wednesday, June 4th. Cowen restated a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Raymond James Financial restated an "outperform" rating and issued a $212.00 price objective (up from $196.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $225.22.

Snowflake Price Performance

Shares of SNOW opened at $222.45 on Monday. The firm has a market cap of $74.27 billion, a price-to-earnings ratio of -52.84 and a beta of 1.21. The stock has a 50 day moving average of $190.70 and a 200-day moving average of $173.44. 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 52 week low of $107.13 and a 52 week high of $225.68.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business's revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. As a group, analysts forecast 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.

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