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

Keystone Investors PTE Ltd. purchased a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 13,311 shares of the company’s stock, valued at approximately $2,055,000.

Several other institutional investors also recently made changes to their positions in SNOW. Asset Dedication LLC grew its holdings in shares of Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after buying an additional 59 shares in the last quarter. Breakwater Capital Group raised its holdings in Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after acquiring an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after purchasing an additional 69 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Snowflake by 21.8% during the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after acquiring an additional 74 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Snowflake by 31.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after purchasing an additional 90 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the sale, the executive now directly owns 308,164 shares in the company, valued at $56,045,786.68. This trade represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,968 shares of company stock valued at $50,900,550 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent research reports. Scotiabank increased their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. JMP Securities restated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. Wedbush set a $210.00 target price on Snowflake in a report on Wednesday, January 22nd. Monness Crespi & Hardt lifted their price objective on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company raised their price objective on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Nine research 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 stock. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $205.08.

Snowflake Stock Performance

NYSE SNOW opened at $163.36 on Tuesday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The stock has a market cap of $53.93 billion, a PE ratio of -48.19 and a beta of 1.07. The stock has a fifty day simple moving average of $172.76 and a 200-day simple moving average of $150.25. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.