Snowflake Inc. (NYSE:SNOW) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its holdings in Snowflake Inc. (NYSE:SNOW) by 3.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,865 shares of the company’s stock after buying an additional 180 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Snowflake were worth $792,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Comerica Bank raised its position in 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 purchasing an additional 4,296 shares during the period. Choreo LLC lifted its stake in 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 acquiring an additional 1,294 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after acquiring an additional 43,062 shares during the period. Trexquant Investment LP grew its position in Snowflake by 266.3% in the 4th quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after acquiring an additional 7,633 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Snowflake during the first quarter worth about $244,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Down 3.3 %

NYSE SNOW opened at $110.26 on Friday. The firm has a market cap of $36.96 billion, a P/E ratio of -39.38 and a beta of 0.83. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The business’s 50-day moving average price is $120.87 and its 200 day moving average price is $139.56.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the business posted ($0.52) EPS. The company’s revenue was up 28.9% on a year-over-year basis. As a group, analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Emily Ho sold 3,845 shares of the company’s 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 transaction, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 517,203 shares of company stock worth $63,833,373. 7.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Scotiabank lowered their price objective on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Evercore ISI dropped their price target on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Royal Bank of Canada reduced their price objective on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. UBS Group lowered their target price on Snowflake from $171.00 to $155.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Finally, Barclays reduced their price target on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a 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 $176.03.

About Snowflake

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.