Value Star Asset Management Hong Kong Ltd Raises Stake in Snowflake Inc. (NYSE:SNOW)

Value Star Asset Management Hong Kong Ltd boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 136,012 shares of the company’s stock after buying an additional 3,000 shares during the quarter. Snowflake makes up about 9.3% of Value Star Asset Management Hong Kong Ltd’s investment portfolio, making the stock its 5th largest holding. Value Star Asset Management Hong Kong Ltd’s holdings in Snowflake were worth $27,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its holdings in Snowflake by 6.2% during the third quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock valued at $8,152,000 after purchasing an additional 3,124 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Snowflake by 0.3% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,400 shares of the company’s stock valued at $8,922,000 after buying an additional 200 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its holdings in Snowflake by 13.4% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 142,456 shares of the company’s stock worth $21,763,000 after buying an additional 16,806 shares during the period. Xponance Inc. increased its stake in Snowflake by 1.7% in the 3rd quarter. Xponance Inc. now owns 44,375 shares of the company’s stock worth $6,779,000 after buying an additional 742 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Snowflake by 28.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 89,735 shares of the company’s stock valued at $13,709,000 after acquiring an additional 19,745 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

NYSE:SNOW traded up $0.94 during trading hours on Wednesday, reaching $156.14. The company had a trading volume of 3,379,440 shares, compared to its average volume of 6,446,320. Snowflake Inc. has a 1-year low of $138.40 and a 1-year high of $237.72. The business’s 50 day moving average price is $167.16 and its 200-day moving average price is $179.13. The firm has a market cap of $52.18 billion, a PE ratio of -61.06 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. On average, analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on SNOW shares. Citigroup cut their target price on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. HSBC restated a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. JMP Securities lifted their price target on shares of Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a report on Thursday, February 29th. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Snowflake in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 12,533 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the completion of the sale, the executive now directly owns 98,172 shares in the company, valued at $19,638,326.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the sale, the senior vice president now owns 736,567 shares of the company’s stock, valued at approximately $162,044,740. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Christopher William Degnan sold 12,533 shares of Snowflake stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $200.04, for a total value of $2,507,101.32. Following the completion of the sale, the executive now owns 98,172 shares in the company, valued at approximately $19,638,326.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,209 shares of company stock valued at $34,291,592. 8.30% of the stock is owned by corporate 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.