Value Star Asset Management Hong Kong Ltd Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Value Star Asset Management Hong Kong Ltd bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,000 shares of the company’s stock, valued at approximately $618,000. Snowflake comprises 2.1% of Value Star Asset Management Hong Kong Ltd’s portfolio, making the stock its 12th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in shares of Snowflake by 13.9% in the third quarter. Janney Montgomery Scott LLC now owns 34,093 shares of the company’s stock valued at $3,916,000 after buying an additional 4,168 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Snowflake by 33.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 38,956 shares of the company’s stock valued at $4,474,000 after buying an additional 9,743 shares during the last quarter. Asset Management One Co. Ltd. raised 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 buying an additional 2,391 shares during the last quarter. Malaga Cove Capital LLC raised 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 buying an additional 2,295 shares during the last quarter. Finally, Olympiad Research LP acquired a new position in shares of Snowflake in the third quarter valued at approximately $255,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price target on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Trading Down 12.0 %

Shares of NYSE:SNOW opened at $156.10 on Friday. The company has a market cap of $51.53 billion, a PE ratio of -46.05 and a beta of 1.07. The company’s 50-day moving average price is $173.80 and its 200 day moving average price is $146.71. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction dated 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 directly owns 44,760 shares in the company, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 297,193 shares of company stock worth $50,096,313 in the last ninety days. 7.80% of the stock is owned by insiders.

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.