Vinva Investment Management Ltd Increases Holdings in Snowflake Inc. (NYSE:SNOW)

Vinva Investment Management Ltd grew its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 59.7% in the 4th quarter, HoldingsChannel reports. The firm owned 14,989 shares of the company’s stock after acquiring an additional 5,605 shares during the quarter. Vinva Investment Management Ltd’s holdings in Snowflake were worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SNOW. Groupama Asset Managment purchased a new stake in shares of Snowflake during the 3rd quarter valued at $25,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the 4th quarter worth $29,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after acquiring an additional 144 shares during the period. Perkins Coie Trust Co grew its stake in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring 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. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $155.89 on Thursday. The stock has a market cap of $51.46 billion, a price-to-earnings ratio of -45.98 and a beta of 1.07. 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 Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The stock’s 50-day moving average is $172.91 and its 200 day moving average is $148.98.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Rosenblatt Securities increased their price target on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Citigroup increased their price target on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. KeyCorp increased their price target on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Stifel Nicolaus increased their price target on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Royal Bank of Canada increased their price target on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.08.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the transaction, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at $7,303,489.20. The trade was a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 directly owns 195,281 shares in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,429 shares of company stock valued at $50,065,812. Corporate 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.