Asset Management One Co. Ltd. Buys 2,391 Shares of Snowflake Inc. (NYSE:SNOW)

Asset Management One Co. Ltd. increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 113,628 shares of the company’s stock after acquiring an additional 2,391 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Snowflake were worth $13,051,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB bought a new position in shares of Snowflake during the 1st quarter valued at about $258,957,000. AQR Capital Management LLC boosted its stake in Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after buying an additional 660,168 shares during the last quarter. SG Americas Securities LLC grew its holdings in Snowflake by 471.9% during the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after buying an additional 628,511 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after acquiring an additional 600,469 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Snowflake by 12,318.3% during the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock worth $60,977,000 after acquiring an additional 526,608 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of SNOW opened at $121.39 on Thursday. The business’s 50-day moving average is $114.63 and its two-hundred day moving average is $129.94. The company has a market capitalization of $40.69 billion, a P/E ratio of -39.67 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping 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 firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the company earned ($0.52) earnings per share. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. Analysts forecast that Snowflake Inc. will post -2.41 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wedbush upgraded shares of Snowflake to a “hold” rating in a research report on Thursday, October 17th. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Evercore ISI reduced their price objective on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. UBS Group dropped their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, Barclays decreased their price target on Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.17.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares in the company, valued at $86,610,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,538 shares of company stock worth $5,249,994 in the last three months. Company insiders own 7.80% of the company’s stock.

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.