Snowflake Inc. $SNOW Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its Snowflake stake by 1.1% in Q3, buying 8,002 shares to hold 732,092 shares worth about $165.12 million (≈0.22% of the company).
• Significant insider selling occurred in December—Director Michael Speiser sold 50,338 shares ($11.61M) and Frank Slootman sold 200,000 shares ($44.37M); insiders sold 418,681 shares totaling $96.07M in the last quarter, leaving insiders with 6.8% ownership.
• Analyst sentiment is positive: the stock has a "Moderate Buy" consensus with an average target of $275.58, and several brokers recently raised price targets (examples: Stifel $280, Jefferies $300, BTIG $312).

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 732,092 shares of the company's stock after buying an additional 8,002 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Snowflake worth $165,123,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new stake in shares of Snowflake during the second quarter valued at approximately $25,000. Avion Wealth grew its holdings in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company's stock valued at $25,000 after purchasing an additional 49 shares in the last quarter. Tripletail Wealth Management LLC acquired a new stake in Snowflake during the 3rd quarter valued at $28,000. Rossby Financial LCC increased its stake in Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company's stock worth $29,000 after buying an additional 127 shares during the period. Finally, SJS Investment Consulting Inc. lifted its holdings in Snowflake by 4,333.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company's stock worth $30,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNOW. Stifel Nicolaus lifted their price target on shares of Snowflake from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, December 4th. Jefferies Financial Group set a $300.00 price objective on Snowflake in a research note on Monday, November 24th. Macquarie lifted their target price on Snowflake from $235.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, December 4th. BTIG Research reissued a "buy" rating and set a $312.00 price target on shares of Snowflake in a research report on Thursday, December 4th. Finally, Raymond James Financial set a $250.00 price objective on Snowflake in a research note on Monday, December 15th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $275.58.

Insider Activity

In related news, Director Michael L. Speiser sold 50,338 shares of the firm's stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $230.65, for a total value of $11,610,459.70. Following the sale, the director directly owned 32,756 shares in the company, valued at $7,555,171.40. This trade represents a 60.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 200,000 shares of the business's stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $221.83, for a total value of $44,366,000.00. Following the transaction, the director owned 50,329 shares of the company's stock, valued at $11,164,482.07. This trade represents a 79.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 418,681 shares of company stock worth $96,073,145 in the last quarter. Company insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of SNOW opened at $220.14 on Tuesday. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a fifty day moving average price of $237.57 and a 200 day moving average price of $229.14. The company has a market cap of $75.33 billion, a P/E ratio of -54.49 and a beta of 1.14.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company's revenue for the quarter was up 28.7% compared to the same quarter last year. On average, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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