Snowflake Inc. (NYSE:SNOW) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Snowflake Inc. (NYSE:SNOW) by 0.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 684,090 shares of the company’s stock after selling 542 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.20% of Snowflake worth $110,549,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SNOW. Bank of Nova Scotia grew its holdings in Snowflake by 13.2% during the 3rd quarter. Bank of Nova Scotia now owns 8,841 shares of the company’s stock valued at $1,351,000 after buying an additional 1,031 shares during the last quarter. AQR Capital Management LLC grew its holdings in Snowflake by 101.4% during the 3rd quarter. AQR Capital Management LLC now owns 70,977 shares of the company’s stock valued at $10,843,000 after buying an additional 35,738 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Snowflake by 1.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 557,538 shares of the company’s stock valued at $84,943,000 after buying an additional 7,416 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Snowflake by 128.0% during the 3rd quarter. Sei Investments Co. now owns 449,314 shares of the company’s stock worth $68,643,000 after purchasing an additional 252,274 shares during the period. Finally, Scotia Capital Inc. lifted its stake in shares of Snowflake by 1.1% during the 3rd quarter. Scotia Capital Inc. now owns 6,444 shares of the company’s stock worth $985,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $142.72 on Thursday. Snowflake Inc. has a 1-year low of $122.60 and a 1-year high of $237.72. The business has a 50-day moving average of $145.22 and a 200-day moving average of $172.05.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. As a group, analysts predict that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the transaction, the chief accounting officer now directly owns 30,613 shares in the company, valued at $3,991,629.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snowflake news, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the transaction, the chief accounting officer now directly owns 30,613 shares in the company, valued at $3,991,629.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on 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 transaction, the executive vice president now owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 519,112 shares of company stock worth $64,932,073. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SNOW shares. UBS Group increased their price target on Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, May 23rd. Redburn Atlantic reissued a “sell” rating and set a $125.00 price target (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Canaccord Genuity Group reduced their price target on Snowflake from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, BNP Paribas raised Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price on the stock in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average price target of $199.46.

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.