Maytus Capital Management LLC Purchases New Stake in Snowflake Inc. (NYSE:SNOW)

Maytus Capital Management LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 77,500 shares of the company's stock, valued at approximately $11,967,000. Snowflake comprises about 4.2% of Maytus Capital Management LLC's investment portfolio, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the business. GAMMA Investing LLC lifted its stake in Snowflake by 59.6% in the fourth quarter. GAMMA Investing LLC now owns 391 shares of the company's stock valued at $60,000 after buying an additional 146 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Snowflake by 27.2% in the 4th quarter. Capital Investment Advisors LLC now owns 2,567 shares of the company's stock worth $396,000 after acquiring an additional 549 shares during the period. JTC Employer Solutions Trustee Ltd increased its position in shares of Snowflake by 1.9% during the 4th quarter. JTC Employer Solutions Trustee Ltd now owns 32,830 shares of the company's stock valued at $5,089,000 after purchasing an additional 600 shares during the period. Abound Wealth Management boosted its stake in Snowflake by 92.7% during the fourth quarter. Abound Wealth Management now owns 1,422 shares of the company's stock valued at $220,000 after buying an additional 684 shares in the last quarter. Finally, Claro Advisors LLC acquired a new stake in Snowflake in the 4th quarter valued at about $231,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research reports. BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 target price for the company in a report on Thursday, February 20th. Daiwa Capital Markets assumed coverage on Snowflake in a report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price on the stock. Macquarie initiated coverage on shares of Snowflake in a research report on Wednesday, April 2nd. They issued a "neutral" rating and a $160.00 target price for the company. Daiwa America raised Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Finally, KeyCorp reduced their price objective on shares of Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and an average target price of $200.28.

Snowflake Stock Up 3.7%

Snowflake stock opened at $180.57 on Tuesday. 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 company's 50-day moving average is $153.34 and its 200-day moving average is $159.84. The firm has a market capitalization of $59.61 billion, a PE ratio of -53.27 and a beta of 1.11. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the transaction, the executive vice president now owns 594,975 shares in the company, valued at $102,186,956.25. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 1,783 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the transaction, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock valued at $58,204,058 in the last quarter. 7.80% of the stock is currently 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.

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