Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys 8,600 Shares of Snowflake Inc. (NYSE:SNOW)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Snowflake Inc. (NYSE:SNOW – Get Rating) by 15.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,792 shares of the company’s stock after acquiring an additional 8,600 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Snowflake were worth $11,012,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in shares of Snowflake by 79.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,293 shares of the company’s stock valued at $984,000 after buying an additional 1,897 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Snowflake during the 1st quarter worth about $2,880,000. Panagora Asset Management Inc. raised its position in shares of Snowflake by 24.8% during the 1st quarter. Panagora Asset Management Inc. now owns 2,718 shares of the company’s stock worth $623,000 after purchasing an additional 540 shares during the last quarter. Raymond James Trust N.A. acquired a new position in shares of Snowflake during the 1st quarter worth about $362,000. Finally, Cibc World Market Inc. raised its position in shares of Snowflake by 37.2% during the 1st quarter. Cibc World Market Inc. now owns 13,959 shares of the company’s stock worth $3,198,000 after purchasing an additional 3,783 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $140.87 on Tuesday. The company’s fifty day simple moving average is $142.11 and its 200-day simple moving average is $157.05. Snowflake Inc. has a 1 year low of $110.26 and a 1 year high of $329.49.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $142.59, for a total value of $103,235.16. Following the sale, the insider now owns 14,404 shares in the company, valued at $2,053,866.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Frank Slootman sold 1,311 shares of the business’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $142.59, for a total transaction of $186,935.49. Following the completion of the transaction, the chief executive officer now directly owns 133,011 shares in the company, valued at approximately $18,966,038.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Benoit Dageville sold 724 shares of the business’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $142.59, for a total value of $103,235.16. Following the transaction, the insider now owns 14,404 shares of the company’s stock, valued at $2,053,866.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,035 shares of company stock worth $30,642,171. Insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial cut their price objective on shares of Snowflake from $225.00 to $200.00 in a report on Tuesday, November 8th. Macquarie started coverage on shares of Snowflake in a research note on Wednesday, November 2nd. They issued a “neutral” rating and a $173.00 price target for the company. Wedbush started coverage on shares of Snowflake in a research report on Wednesday, December 14th. They set a “neutral” rating and a $144.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Snowflake from $190.00 to $185.00 in a research report on Thursday, December 1st. Finally, Evercore ISI lowered their price objective on shares of Snowflake to $196.00 in a research report on Friday, December 2nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.34.

About Snowflake

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.