Sumitomo Mitsui Trust Group Inc. Acquires 3,487 Shares of Snowflake Inc. (NYSE:SNOW)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 664,858 shares of the company’s stock after acquiring an additional 3,487 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Snowflake worth $76,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Snowflake by 55.1% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 31,615 shares of the company’s stock valued at $3,556,000 after acquiring an additional 11,236 shares during the period. Once Capital Management LLC raised its stake in Snowflake by 66.8% in the 3rd quarter. Once Capital Management LLC now owns 68,400 shares of the company’s stock valued at $7,856,000 after acquiring an additional 27,400 shares during the period. Fountainhead AM LLC raised its stake in Snowflake by 13.4% in the 3rd quarter. Fountainhead AM LLC now owns 4,810 shares of the company’s stock valued at $552,000 after acquiring an additional 568 shares during the period. Baker Avenue Asset Management LP raised its stake in Snowflake by 49.8% in the 3rd quarter. Baker Avenue Asset Management LP now owns 23,794 shares of the company’s stock valued at $2,733,000 after acquiring an additional 7,914 shares during the period. Finally, Mayflower Financial Advisors LLC raised its stake in Snowflake by 39.3% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 4,192 shares of the company’s stock valued at $481,000 after acquiring an additional 1,182 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 3,029 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $346,487.31. Following the completion of the transaction, the executive vice president now directly owns 753,464 shares in the company, valued at $86,188,746.96. This trade represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,061,544 over the last ninety days. 7.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SNOW shares. Needham & Company LLC decreased their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. UBS Group decreased their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a report on Wednesday, October 2nd. TD Cowen decreased their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Finally, Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $172.09.

Snowflake Trading Down 1.2 %

Snowflake stock opened at $129.19 on Friday. The company has a market capitalization of $43.30 billion, a PE ratio of -42.22 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a 50-day moving average price of $116.03 and a two-hundred day moving average price of $128.90.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the company earned ($0.52) earnings per share. The firm’s revenue was up 28.9% compared to the same quarter last year. As a group, analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

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.