Snowflake Inc. (NYSE:SNOW) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 684,632 shares of the company's stock after acquiring an additional 37,515 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.21% of Snowflake worth $136,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Snowflake by 333.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company's stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Snowflake by 822.2% in the first quarter. Geneos Wealth Management Inc. now owns 166 shares of the company's stock worth $38,000 after purchasing an additional 148 shares during the last quarter. Ulland Investment Advisors LLC grew its holdings in Snowflake by 270.0% in the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company's stock worth $28,000 after purchasing an additional 135 shares during the last quarter. Provence Wealth Management Group purchased a new position in Snowflake in the third quarter worth $30,000. Finally, M&R Capital Management Inc. grew its holdings in Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company's stock worth $40,000 after purchasing an additional 100 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

Shares of SNOW traded down $1.70 during mid-day trading on Tuesday, hitting $150.28. 4,698,170 shares of the company were exchanged, compared to its average volume of 6,755,834. Snowflake Inc. has a 1-year low of $135.26 and a 1-year high of $237.72. The stock has a market cap of $50.22 billion, a price-to-earnings ratio of -59.13 and a beta of 0.91. The company has a 50 day moving average of $183.70 and a 200-day moving average of $179.49.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million during the quarter, compared to analysts' expectations of $759.86 million. Research analysts anticipate that Snowflake Inc. will post -1.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. HSBC reissued a "reduce" rating on shares of Snowflake in a report on Thursday, February 29th. Raymond James boosted their price objective on shares of Snowflake from $190.00 to $223.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Stifel Nicolaus dropped their price objective on shares of Snowflake from $235.00 to $220.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Needham & Company LLC dropped their price objective on shares of Snowflake from $265.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Finally, Royal Bank of Canada dropped their price objective on shares of Snowflake from $255.00 to $246.00 and set an "outperform" rating on the stock in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.00.

Insider Activity at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares of the company's stock, valued at approximately $13,915,695.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CRO Christopher William Degnan sold 2,346 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total transaction of $476,894.88. Following the completion of the transaction, the executive now owns 102,007 shares of the company's stock, valued at approximately $20,735,982.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares of the company's stock, valued at approximately $13,915,695.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,055 shares of company stock valued at $36,633,917. Corporate insiders own 8.30% of the company's stock.

Snowflake Company 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.