Value Star Asset Management Hong Kong Ltd Raises Holdings in Snowflake Inc. (NYSE:SNOW)

Value Star Asset Management Hong Kong Ltd lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 136,012 shares of the company’s stock after buying an additional 3,000 shares during the period. Snowflake comprises about 9.3% of Value Star Asset Management Hong Kong Ltd’s holdings, making the stock its 5th largest position. Value Star Asset Management Hong Kong Ltd’s holdings in Snowflake were worth $27,066,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $790,000. Sequoia Financial Advisors LLC raised its stake in Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after acquiring an additional 3,152 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Snowflake during the 3rd quarter worth $458,000. Glynn Capital Management LLC grew its stake in shares of Snowflake by 3.1% in the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after purchasing an additional 5,629 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Snowflake by 55.9% during the fourth quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after purchasing an additional 105,937 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, insider Benoit Dageville sold 689 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares of the company’s stock, valued at $11,406,744.30. 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.

Snowflake Stock Up 0.6 %

SNOW traded up $0.94 during trading on Wednesday, reaching $156.14. 3,379,440 shares of the company’s stock were exchanged, compared to its average volume of 6,446,320. The company has a market capitalization of $52.18 billion, a P/E ratio of -61.06 and a beta of 0.91. The business has a 50 day moving average price of $167.16 and a 200 day moving average price of $179.13. Snowflake Inc. has a fifty-two week low of $138.40 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. As a group, research analysts forecast that Snowflake Inc. will post -1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNOW. Needham & Company LLC decreased their target price on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Redburn Atlantic reiterated a “sell” rating and set a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. JMP Securities upped their target price on Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 29th. Royal Bank of Canada decreased their price target on Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Finally, Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $202.00.

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.