Tokio Marine Asset Management Co. Ltd. Increases Stake in Snowflake Inc. (NYSE:SNOW)

Tokio Marine Asset Management Co. Ltd. lifted its position in Snowflake Inc. (NYSE:SNOW) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,937 shares of the company’s stock after buying an additional 519 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Snowflake were worth $1,380,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNOW. Exchange Traded Concepts LLC grew its position in shares of Snowflake by 123.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 8,438 shares of the company’s stock worth $1,289,000 after buying an additional 4,660 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Snowflake by 43.5% in the third quarter. UMB Bank n.a. now owns 2,565 shares of the company’s stock valued at $392,000 after purchasing an additional 778 shares during the period. Gemmer Asset Management LLC purchased a new position in Snowflake in the third quarter worth approximately $3,999,000. Handelsbanken Fonder AB lifted its position in shares of Snowflake by 1.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 60,612 shares of the company’s stock worth $9,260,000 after buying an additional 1,149 shares during the last quarter. Finally, Slow Capital Inc. increased its holdings in shares of Snowflake by 3.9% in the 3rd quarter. Slow Capital Inc. now owns 21,346 shares of the company’s stock valued at $3,261,000 after acquiring an additional 798 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

NYSE:SNOW traded up $5.43 during trading hours on Friday, hitting $157.93. The stock had a trading volume of 1,126,225 shares, compared to its average volume of 6,459,902. Snowflake Inc. has a one year low of $138.40 and a one year high of $237.72. The company has a market cap of $52.78 billion, a price-to-earnings ratio of -59.80 and a beta of 0.91. The business’s 50 day moving average is $171.35 and its 200-day moving average is $178.97.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. On average, sell-side analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Activity at Snowflake

In other news, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the completion of the transaction, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at approximately $40,555,593.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Snowflake news, CEO Frank Slootman sold 86,078 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the sale, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at approximately $40,555,593.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the transaction, the executive vice president now owns 86,208 shares in the company, valued at approximately $13,915,695.36. The disclosure for this sale can be found here. Insiders have sold a total of 168,209 shares of company stock valued at $34,291,592 in the last 90 days. 8.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. UBS Group lifted their price target on Snowflake from $185.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Redburn Atlantic reaffirmed a “sell” rating and issued a $125.00 price target (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Barclays decreased their price objective on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Finally, Royal Bank of Canada reduced their price objective on Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $202.00.

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.