China Universal Asset Management Co. Ltd. Takes Position in Snowflake Inc. (NYSE:SNOW)

China Universal Asset Management Co. Ltd. purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,622 shares of the company’s stock, valued at approximately $250,000.

A number of other large investors also recently bought and sold shares of SNOW. Groupama Asset Managment bought a new stake in shares of Snowflake during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new position in Snowflake during the 3rd quarter worth $30,000. Fortitude Family Office LLC bought a new stake in Snowflake during the 3rd quarter valued at $34,000. Perkins Coie Trust Co lifted its holdings in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Snowflake during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several recent research reports. Evercore ISI lifted their price objective on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a report on Friday, January 10th. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Bank of America boosted their price objective on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $187.06.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the sale, the executive vice president now directly owns 691,755 shares in the company, valued at $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 504,151 shares of company stock worth $84,973,139 over the last three months. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $181.66 on Monday. The stock has a market cap of $59.97 billion, a price-to-earnings ratio of -53.59 and a beta of 1.05. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a 50 day simple moving average of $169.48 and a two-hundred day simple moving average of $137.70. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.