Value Star Asset Management Hong Kong Ltd Invests $618,000 in Snowflake Inc. (NYSE:SNOW)

Value Star Asset Management Hong Kong Ltd purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,000 shares of the company's stock, valued at approximately $618,000. Snowflake accounts for 2.1% of Value Star Asset Management Hong Kong Ltd's investment portfolio, making the stock its 12th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Janney Montgomery Scott LLC raised its stake in shares of Snowflake by 13.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 34,093 shares of the company's stock valued at $3,916,000 after purchasing an additional 4,168 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Snowflake by 33.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 38,956 shares of the company's stock valued at $4,474,000 after purchasing an additional 9,743 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Snowflake by 2.1% in the third quarter. Asset Management One Co. Ltd. now owns 113,628 shares of the company's stock valued at $13,051,000 after acquiring an additional 2,391 shares during the last quarter. Malaga Cove Capital LLC increased its position in shares of Snowflake by 44.5% in the third quarter. Malaga Cove Capital LLC now owns 7,457 shares of the company's stock valued at $857,000 after acquiring an additional 2,295 shares during the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of Snowflake in the third quarter valued at about $255,000. Institutional investors and hedge funds own 65.10% of the company's stock.

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Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the business's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now directly owns 195,281 shares in the company, valued at $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 1,508 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the transaction, the chief accounting officer now owns 44,760 shares of the company's stock, valued at approximately $7,303,489.20. This represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 297,193 shares of company stock worth $50,096,313 over the last three months. Corporate insiders own 7.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNOW. Jefferies Financial Group lifted their target price on Snowflake from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, February 21st. UBS Group lifted 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. Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Piper Sandler lifted their target price on Snowflake from $208.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, TD Cowen lifted their target price on Snowflake from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus price target of $202.92.

Snowflake Price Performance

Shares of SNOW stock traded up $2.32 during trading on Friday, hitting $158.54. The company had a trading volume of 11,039,685 shares, compared to its average volume of 6,183,916. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $52.33 billion, a P/E ratio of -46.77 and a beta of 1.07. The stock's 50-day moving average price is $173.79 and its 200 day moving average price is $147.00. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40.

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.