Daiwa Securities Group Inc. Has $11.84 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Daiwa Securities Group Inc. raised its stake in Snowflake Inc. (NYSE:SNOW) by 186.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,686 shares of the company’s stock after acquiring an additional 49,930 shares during the period. Daiwa Securities Group Inc.’s holdings in Snowflake were worth $11,841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. Jennison Associates LLC raised its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Snowflake in the 4th quarter valued at $124,433,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock valued at $61,439,000 after purchasing an additional 333,500 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Frank Slootman sold 6,714 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the transaction, the director now directly owns 196,454 shares of the company’s stock, valued at approximately $33,593,634. This represents a 3.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the transaction, the chief accounting officer now directly owns 44,760 shares in the company, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 294,923 shares of company stock valued at $49,689,983 in the last ninety days. 7.80% of the stock is owned by company insiders.

Snowflake Stock Down 7.3 %

Shares of NYSE:SNOW opened at $147.38 on Tuesday. The company has a market capitalization of $48.65 billion, a price-to-earnings ratio of -43.47 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business’s 50-day moving average is $173.64 and its 200-day moving average is $147.31. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SNOW. Deutsche Bank Aktiengesellschaft lifted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Stifel Nicolaus lifted their price target on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler lifted their price target on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, TD Cowen lifted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Snowflake 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.