Mitsubishi UFJ Asset Management Co. Ltd. Has $29.55 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 33.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,399 shares of the company's stock after buying an additional 40,312 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Snowflake were worth $29,547,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company's stock valued at $940,160,000 after acquiring an additional 1,496,235 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in Snowflake in the third quarter valued at $226,302,000. Trivest Advisors Ltd bought a new stake in Snowflake in the fourth quarter valued at about $173,747,000. Vanguard Group Inc. lifted its stake in Snowflake by 4.0% during the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company's stock worth $2,968,152,000 after purchasing an additional 743,211 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Snowflake by 69.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company's stock valued at $231,481,000 after buying an additional 623,277 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNOW. JMP Securities raised their price objective on Snowflake from $212.00 to $235.00 and gave the stock a "market outperform" rating in a research note on Thursday, February 29th. Canaccord Genuity Group reiterated a "buy" rating and issued a $230.00 target price on shares of Snowflake in a report on Thursday, February 29th. Piper Sandler restated an "overweight" rating and issued a $250.00 price target on shares of Snowflake in a research report on Tuesday, February 27th. Monness Crespi & Hardt upgraded shares of Snowflake from a "sell" rating to a "neutral" rating in a research report on Monday, March 18th. Finally, KeyCorp began coverage on Snowflake in a report on Thursday, April 11th. They issued an "overweight" rating and a $185.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $202.43.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $0.67 during mid-day trading on Thursday, reaching $165.04. 3,001,520 shares of the company's stock were exchanged, compared to its average volume of 6,067,728. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72. The firm has a market capitalization of $55.16 billion, a price-to-earnings ratio of -64.45 and a beta of 0.90. The business's fifty day moving average price is $157.12 and its 200-day moving average price is $179.62.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Analysts predict that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the transaction, the executive vice president now owns 772,597 shares of the company's stock, valued at $124,504,006.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Snowflake news, insider Benoit Dageville sold 689 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now directly owns 70,665 shares of the company's stock, valued at $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the business's stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares in the company, valued at $124,504,006.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,380 shares of company stock valued at $9,803,625. 8.30% of the stock is owned by company 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.