Central Asset Investments & Management Holdings HK Ltd Invests $834,000 in Snowflake Inc. (NYSE:SNOW)

Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,400 shares of the company’s stock, valued at approximately $834,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Groupama Asset Managment purchased a new position in shares of Snowflake in the third quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the fourth quarter worth about $29,000. Fortitude Family Office LLC purchased a new position in Snowflake during the 3rd quarter valued at about $34,000. Perkins Coie Trust Co raised its position in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Snowflake during the 4th quarter valued at approximately $38,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Up 1.2 %

SNOW opened at $166.20 on Thursday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $235.66. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average price of $172.79 and a 200-day moving average price of $144.94. The stock has a market capitalization of $54.86 billion, a price-to-earnings ratio of -49.03 and a beta of 1.07.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the sale, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,810 shares of company stock valued at $63,340,544. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Thursday, February 20th. UBS Group boosted their price objective on shares of Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Cantor Fitzgerald began coverage on shares of Snowflake in a research note on Friday, January 17th. They set an “overweight” rating and a $201.00 target price on the stock. Rosenblatt Securities increased their price target on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group lifted their price objective on Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $196.19.

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.