Keystone Investors PTE Ltd. Invests $2.06 Million in Snowflake Inc. (NYSE:SNOW)

Keystone Investors PTE Ltd. bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, HoldingsChannel reports. The fund bought 13,311 shares of the company’s stock, valued at approximately $2,055,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GQG Partners LLC bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $750,572,000. Jennison Associates LLC raised its holdings in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Snowflake during the fourth quarter worth $124,433,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock valued at $61,439,000 after acquiring an additional 333,500 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $163.36 on Tuesday. The company has a market capitalization of $53.93 billion, a P/E ratio of -48.19 and a beta of 1.07. 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 stock has a 50 day moving average price of $172.76 and a two-hundred day moving average price of $150.25. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNOW. Jefferies Financial Group raised their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Oppenheimer lifted their price target on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Royal Bank of Canada lifted their target price on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Rosenblatt Securities upped their price target on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Monness Crespi & Hardt upped their price objective on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $205.08.

Insider Buying and Selling

In other news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the sale, the executive now directly owns 311,999 shares in the company, valued at $49,058,722.76. This represents a 3.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 7,908 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the completion of the transaction, the executive vice president now owns 600,632 shares of the company’s stock, valued at approximately $92,899,751.44. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,968 shares of company stock valued at $50,900,550 over the last ninety days. 7.80% of the stock is owned by insiders.

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.