Asset Management One Co. Ltd. Buys 4,597 Shares of Snowflake Inc. (NYSE:SNOW)

Asset Management One Co. Ltd. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 4.0% in the fourth quarter, HoldingsChannel reports. The fund owned 118,225 shares of the company’s stock after acquiring an additional 4,597 shares during the period. Asset Management One Co. Ltd.’s holdings in Snowflake were worth $18,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the period. Prospect Financial Services LLC bought a new stake in Snowflake during the 4th quarter valued at approximately $288,000. Independent Advisor Alliance lifted its holdings in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new stake in Snowflake during the 4th quarter valued at approximately $5,851,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the transaction, the executive now directly owns 346,741 shares in the company, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wedbush upgraded Snowflake from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group boosted their target price on Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, Monness Crespi & Hardt upped their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $187.63.

Snowflake Price Performance

NYSE SNOW opened at $187.86 on Friday. The company has a market cap of $62.01 billion, a PE ratio of -55.42 and a beta of 1.07. The firm’s 50 day moving average price is $171.51 and its 200-day moving average price is $141.67. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $236.33.

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.