Dai ichi Life Insurance Company Ltd Grows Stock Position in Snowflake Inc. (NYSE:SNOW)

Dai ichi Life Insurance Company Ltd boosted its stake in Snowflake Inc. (NYSE:SNOW) by 196.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,790 shares of the company’s stock after acquiring an additional 4,500 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Snowflake were worth $780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Comerica Bank boosted its stake in shares of Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after buying an additional 4,296 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after buying an additional 43,062 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Snowflake by 201.5% during the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after acquiring an additional 42,563 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Snowflake by 17.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after acquiring an additional 228 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Snowflake by 77.0% during the 2nd quarter. SG Americas Securities LLC now owns 133,186 shares of the company’s stock valued at $17,992,000 after acquiring an additional 57,960 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, Director Frank Slootman sold 20,514 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total value of $3,595,283.64. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,582,896.10. The trade was a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the sale, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,661 shares of company stock valued at $32,004,752 over the last 90 days. 7.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. KeyCorp upped their price target on Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Needham & Company LLC upped their price target on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays upped their price target on Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Evercore ISI upped their price target on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, HSBC raised Snowflake from a “reduce” rating to a “hold” rating and increased their target price for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.09.

Snowflake Stock Up 1.4 %

Shares of SNOW opened at $173.70 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company’s fifty day moving average is $124.88 and its 200-day moving average is $128.64. The firm has a market cap of $58.22 billion, a price-to-earnings ratio of -51.24 and a beta of 0.83.

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.