Mitsubishi UFJ Trust & Banking Corp Lowers Stake in Snowflake Inc. (NYSE:SNOW)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,830 shares of the company’s stock after selling 3,623 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Snowflake were worth $20,819,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Groupama Asset Managment purchased a new position in shares of Snowflake in the third quarter worth $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the fourth quarter worth about $29,000. Blue Bell Private Wealth Management LLC lifted its position in shares of Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after buying an additional 144 shares in the last quarter. Perkins Coie Trust Co boosted its stake in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Snowflake in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Piper Sandler upped their target price on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Jefferies Financial Group lifted their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company boosted their price objective on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Loop Capital raised their price objective on Snowflake from $205.00 to $215.00 and gave the company 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $205.08.

Snowflake Trading Down 1.7 %

Shares of NYSE SNOW opened at $157.01 on Friday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The business has a fifty day moving average price of $172.39 and a 200 day moving average price of $150.74. The stock has a market capitalization of $51.83 billion, a P/E ratio of -46.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 1,783 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 603,968 shares of company stock worth $99,863,550. 7.80% of the stock is owned by corporate insiders.

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.