Hel Ved Capital Management Ltd Increases Holdings in Snowflake Inc. (NYSE:SNOW)

Hel Ved Capital Management Ltd boosted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 109.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,965 shares of the company's stock after acquiring an additional 4,165 shares during the quarter. Hel Ved Capital Management Ltd's holdings in Snowflake were worth $1,230,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank lifted its holdings in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock worth $4,276,000 after purchasing an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new stake in Snowflake during the 4th quarter valued at approximately $288,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after acquiring an additional 8,857 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Snowflake in the fourth quarter worth $5,851,000. Finally, Stephens Consulting LLC increased its stake in shares of Snowflake by 7,407.4% in the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock worth $313,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Activity at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares of the company's stock, valued at $34,418,276.25. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 491,589 shares of company stock worth $82,405,796. Corporate insiders own 7.80% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America upped their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Wolfe Research raised Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 target price on the stock in a report on Tuesday, February 18th. Oppenheimer upped their price objective on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Barclays upped their price objective on shares of Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, UBS Group raised their target price on Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average target price of $201.84.

Snowflake Trading Down 5.9 %

SNOW traded down $8.95 during mid-day trading on Thursday, hitting $142.20. 2,111,489 shares of the stock were exchanged, compared to its average volume of 5,926,834. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $46.94 billion, a PE ratio of -41.92 and a beta of 1.13. The firm's fifty day moving average is $164.81 and its two-hundred day moving average is $153.09. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

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.