Mitsubishi UFJ Asset Management Co. Ltd. Buys 24,493 Shares of Snowflake Inc. (NYSE:SNOW)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 267,176 shares of the company’s stock after acquiring an additional 24,493 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Snowflake were worth $43,341,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SNOW. Korea Investment CORP boosted its position in Snowflake by 74.4% during the fourth quarter. Korea Investment CORP now owns 283,576 shares of the company’s stock worth $43,787,000 after purchasing an additional 120,961 shares during the period. Tyler Stone Wealth Management acquired a new stake in shares of Snowflake in the fourth quarter worth $896,000. Ausdal Financial Partners Inc. bought a new stake in shares of Snowflake during the 4th quarter worth $246,000. Keystone Investors PTE Ltd. acquired a new position in Snowflake in the 4th quarter valued at $2,055,000. Finally, First American Trust FSB bought a new position in Snowflake in the 4th quarter worth $3,124,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SNOW shares. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Jefferies Financial Group lifted their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Evercore ISI increased their price objective on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Needham & Company LLC boosted their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Bank of America increased their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.08.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $150.60 on Friday. The business has a fifty day moving average of $171.99 and a 200-day moving average of $151.30. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The firm has a market cap of $49.71 billion, a PE ratio of -44.42 and a beta of 1.07.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 685 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares in the company, valued at approximately $91,673,243.64. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the sale, the executive now owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 603,968 shares of company stock valued at $99,863,550 in the last 90 days. 7.80% of the stock is currently 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.