Central Asset Investments & Management Holdings HK Ltd Purchases Shares of 5,400 Snowflake Inc. (NYSE:SNOW)

Central Asset Investments & Management Holdings HK Ltd acquired a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,400 shares of the company’s stock, valued at approximately $834,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank increased its position in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Prospect Financial Services LLC purchased a new position in shares of Snowflake during the 4th quarter worth about $288,000. Independent Advisor Alliance grew its holdings in Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $5,851,000. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 59,617 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at approximately $36,789,543.75. This represents a 22.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $174.06, for a total value of $2,224,834.92. Following the transaction, the executive now owns 323,731 shares in the company, valued at approximately $56,348,617.86. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,810 shares of company stock valued at $63,340,544 in the last 90 days. 7.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday. KeyCorp increased their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Needham & Company LLC boosted their target price on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a report on Tuesday, February 18th. Finally, Monness Crespi & Hardt lifted their price target on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.19.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $166.20 on Thursday. The business’s 50 day moving average price is $172.79 and its 200-day moving average price is $144.94. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $235.66. 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 firm has a market capitalization of $54.86 billion, a PE ratio of -49.03 and a beta of 1.07.

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.