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

Value Star Asset Management Hong Kong Ltd raised its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 50.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the company's stock after acquiring an additional 2,000 shares during the quarter. Snowflake comprises approximately 5.7% of Value Star Asset Management Hong Kong Ltd's investment portfolio, making the stock its 8th biggest holding. Value Star Asset Management Hong Kong Ltd's holdings in Snowflake were worth $877,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. ORG Wealth Partners LLC bought a new stake in Snowflake during the 1st quarter worth about $898,000. Kirtland Hills Capital Management LLC boosted its stake in shares of Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock valued at $2,458,000 after purchasing an additional 4,559 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Snowflake by 455.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after buying an additional 101,806 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in shares of Snowflake during the fourth quarter worth approximately $3,088,000. Finally, GraniteShares Advisors LLC bought a new stake in shares of Snowflake during the fourth quarter worth approximately $781,000. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Down 0.1%

Shares of NYSE:SNOW opened at $211.84 on Monday. The company's 50-day moving average price is $183.12 and its two-hundred day moving average price is $171.86. Snowflake Inc. has a one year low of $107.13 and a one year high of $215.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $70.73 billion, a PE ratio of -50.32 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. Snowflake's revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. On average, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on SNOW shares. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. CICC Research initiated coverage on Snowflake in a research report on Friday. They issued an "outperform" rating and a $225.00 price target on the stock. Mizuho lifted their price objective on Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Truist Financial increased their target price on Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Citigroup restated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $223.54.

Insider Activity

In other news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company's stock, valued at $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 894,638 shares of company stock valued at $169,965,038. 6.80% of the stock is owned by insiders.

Snowflake 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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.