Meiji Yasuda Life Insurance Co Decreases Stock Position in Snowflake Inc. (NYSE:SNOW)

Meiji Yasuda Life Insurance Co trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,037 shares of the company’s stock after selling 250 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Snowflake were worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SNOW. Comerica Bank lifted its position in shares of Snowflake by 17.2% in the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after acquiring an additional 4,296 shares in the last quarter. Choreo LLC boosted its stake in shares of Snowflake by 18.6% during the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock worth $1,336,000 after purchasing an additional 1,294 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Snowflake by 23.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after buying an additional 43,062 shares in the last quarter. Trexquant Investment LP raised its position in shares of Snowflake by 266.3% in the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after buying an additional 7,633 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Snowflake during the first quarter valued at approximately $244,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on SNOW shares. JPMorgan Chase & Co. lifted their target price on shares of Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Robert W. Baird dropped their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Canaccord Genuity Group decreased their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Jefferies Financial Group dropped their price objective on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, JMP Securities decreased their target price on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $176.03.

Snowflake Trading Down 0.8 %

Snowflake stock opened at $110.78 on Thursday. The stock has a 50 day moving average of $121.87 and a 200-day moving average of $140.21. The stock has a market cap of $37.09 billion, a P/E ratio of -39.56 and a beta of 0.83. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the business earned ($0.52) EPS. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, equities analysts predict that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Emily Ho sold 3,845 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total transaction of $501,349.55. Following the completion of the sale, the chief accounting officer now owns 30,613 shares in the company, valued at approximately $3,991,629.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at $83,511,651.08. The disclosure for this sale can be found here. Insiders sold a total of 518,498 shares of company stock valued at $63,995,494 over the last three months. 7.80% of the stock is owned by 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.