Snowflake Inc. (NYSE:SNOW) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 134,830 shares of the company’s stock after selling 3,623 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Snowflake were worth $20,819,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in SNOW. GQG Partners LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $750,572,000. Jennison Associates LLC raised its position in Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Snowflake in the 4th quarter valued at $124,433,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Snowflake by 165.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock worth $61,439,000 after acquiring an additional 333,500 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $157.01 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The firm has a market capitalization of $51.83 billion, a P/E ratio of -46.31 and a beta of 1.07. The stock’s fifty day moving average is $172.39 and its two-hundred day moving average is $150.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Oppenheimer upped their price target on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Truist Financial restated a “buy” rating and issued a $225.00 target price (up previously from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research report on Tuesday, February 18th. Wedbush set a $210.00 price target on Snowflake in a report on Wednesday, January 22nd. Finally, Stifel Nicolaus raised their price objective on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Insider Activity

In other news, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares of the company’s stock, valued at $91,673,243.64. The trade was a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 603,968 shares of company stock valued at $99,863,550. 7.80% of the stock is currently owned by 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.