Tokio Marine Asset Management Co. Ltd. Acquires 502 Shares of Snowflake Inc. (NYSE:SNOW)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,308 shares of the company’s stock after buying an additional 502 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Snowflake were worth $1,069,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Metis Global Partners LLC boosted its stake in shares of Snowflake by 8.4% during the third quarter. Metis Global Partners LLC now owns 6,987 shares of the company’s stock valued at $803,000 after purchasing an additional 544 shares in the last quarter. Curi RMB Capital LLC increased its holdings in shares of Snowflake by 19.0% during the third quarter. Curi RMB Capital LLC now owns 26,112 shares of the company’s stock valued at $2,999,000 after acquiring an additional 4,163 shares in the last quarter. Huntington National Bank increased its holdings in shares of Snowflake by 24.2% during the third quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $80,000 after acquiring an additional 135 shares in the last quarter. KBC Group NV boosted its position in shares of Snowflake by 8.7% during the third quarter. KBC Group NV now owns 39,784 shares of the company’s stock valued at $4,570,000 after buying an additional 3,183 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its position in shares of Snowflake by 1,048.2% during the third quarter. Plato Investment Management Ltd now owns 5,362 shares of the company’s stock valued at $615,000 after buying an additional 4,895 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In other Snowflake news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,061,544 over the last quarter. 7.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SNOW shares. JMP Securities cut their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Jefferies Financial Group cut their target price on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. UBS Group cut their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Robert W. Baird cut their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, Argus started coverage on Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.09.

Snowflake Trading Down 2.6 %

Shares of NYSE:SNOW opened at $125.92 on Friday. The stock has a fifty day simple moving average of $116.73 and a two-hundred day simple moving average of $128.68. The stock has a market capitalization of $42.21 billion, a price-to-earnings ratio of -41.15 and a beta of 0.83. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share 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 during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the previous year, the business earned ($0.52) earnings per share. The company’s revenue was up 28.9% on a year-over-year basis. As a group, equities research analysts predict that Snowflake Inc. will post -2.41 EPS for the current year.

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.