TB Alternative Assets Ltd. Takes $427,000 Position in Snowflake Inc. (NYSE:SNOW)

TB Alternative Assets Ltd. purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,767 shares of the company's stock, valued at approximately $427,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Breakwater Capital Group boosted its position in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after buying an additional 62 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in Snowflake by 31.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company's stock worth $59,000 after acquiring an additional 90 shares in the last quarter. Modus Advisors LLC boosted its holdings in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company's stock worth $286,000 after acquiring an additional 94 shares during the period. Catalyst Private Wealth LLC grew its position in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company's stock valued at $382,000 after acquiring an additional 104 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its stake in shares of Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company's stock valued at $210,000 after purchasing an additional 115 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of SNOW traded up $2.64 during trading hours on Tuesday, hitting $173.43. 5,270,259 shares of the company were exchanged, compared to its average volume of 5,036,917. 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 company has a market capitalization of $57.25 billion, a PE ratio of -51.16 and a beta of 1.05. The firm has a fifty day simple moving average of $162.06 and a 200-day simple moving average of $135.12. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Snowflake from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $150.00 to $200.00 in a report on Tuesday, January 7th. Jefferies Financial Group boosted their price target on Snowflake from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. DA Davidson restated a "buy" rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Royal Bank of Canada upped their price target on shares of Snowflake from $175.00 to $188.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Finally, Piper Sandler increased their price objective on shares of Snowflake from $185.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $188.06.

Insider Activity

In related news, Director Frank Slootman sold 45,896 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares of the company's stock, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 706,755 shares of the company's stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock valued at $62,545,855 over the last three months. Insiders own 7.80% of the company's stock.

Snowflake Company 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.