TB Alternative Assets Ltd. Acquires 32,892 Shares of Snowflake Inc. (NYSE:SNOW)

TB Alternative Assets Ltd. increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 1,188.7% in the 1st quarter, HoldingsChannel reports. The firm owned 35,659 shares of the company’s stock after acquiring an additional 32,892 shares during the quarter. Snowflake accounts for 1.2% of TB Alternative Assets Ltd.’s portfolio, making the stock its 23rd largest holding. TB Alternative Assets Ltd.’s holdings in Snowflake were worth $5,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SNOW. Norges Bank bought a new stake in Snowflake during the fourth quarter worth about $988,950,000. GQG Partners LLC bought a new stake in Snowflake during the fourth quarter worth about $750,572,000. FMR LLC lifted its position in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after purchasing an additional 2,200,406 shares during the period. Finally, Groupama Asset Managment lifted its position in Snowflake by 930,132.6% during the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after purchasing an additional 1,999,785 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 1,783 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 192,511 shares of the company’s stock, valued at $28,345,319.64. This trade represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 849,779 shares of company stock valued at $159,318,643 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $210.78 on Friday. The business’s 50 day simple moving average is $169.37 and its 200 day simple moving average is $169.43. Snowflake Inc. has a one year low of $107.13 and a one year high of $214.83. The stock has a market capitalization of $70.37 billion, a PE ratio of -62.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The firm’s revenue was up 25.8% on a year-over-year basis. As a group, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Snowflake from $236.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday. Daiwa America raised Snowflake to a “strong-buy” rating in a research note on Tuesday, April 1st. Sanford C. Bernstein reissued a “market perform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Scotiabank reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $225.00 target price (up previously from $200.00) on shares of Snowflake in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.97.

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.