TB Alternative Assets Ltd. Invests $10.04 Million in Snowflake Inc. $SNOW

TB Alternative Assets Ltd. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, HoldingsChannel reports. The firm acquired 45,768 shares of the company’s stock, valued at approximately $10,040,000. Snowflake accounts for 1.6% of TB Alternative Assets Ltd.’s holdings, making the stock its 14th largest holding.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Snowflake by 3.1% during the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after buying an additional 857,832 shares in the last quarter. Jennison Associates LLC increased its holdings in Snowflake by 13.5% in the 3rd quarter. Jennison Associates LLC now owns 9,083,889 shares of the company’s stock valued at $2,048,871,000 after buying an additional 1,083,222 shares during the period. State Street Corp raised its stake in shares of Snowflake by 1.4% in the 2nd quarter. State Street Corp now owns 6,887,073 shares of the company’s stock valued at $1,541,120,000 after buying an additional 94,293 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Snowflake by 13.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,584,128 shares of the company’s stock valued at $802,020,000 after buying an additional 412,493 shares in the last quarter. Finally, Winslow Capital Management LLC bought a new position in shares of Snowflake during the 2nd quarter worth about $725,667,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Benchmark initiated coverage with a Buy and $190 price target, calling Snowflake a top AI infrastructure pick and citing a large ($500B+) AI Data Cloud TAM — supports upside vs. current valuation. Wall Street Calls Snowflake a Top AI Infrastructure Pick
• Positive Sentiment: Analysts (RBC and others) are pointing to rising AI workloads and ongoing data-cloud adoption as structural drivers for Snowflake’s revenue growth — supportive for medium-term demand expectations. Snowflake Outlook Backed by AI Demand, Data Cloud Adoption RBC Says
• Positive Sentiment: Morningstar expanded the investment datasets available on Snowflake Marketplace, increasing the usefulness of Snowflake for institutional workflows and the Marketplace monetization opportunity. Morningstar Expands Investment Data Available on Snowflake Marketplace
• Positive Sentiment: Snowflake promoted longtime leader Jonathan Beaulier to Chief Revenue Officer — an insider with a track record at the company who will oversee revenue and go-to-market execution. That reduces uncertainty around sales leadership after recent moves. Snowflake Appoints Jonathan Beaulier as Chief Revenue Officer
• Neutral Sentiment: Market headlines note Snowflake outpaced the market today — a descriptive piece that reflects the net effect of the day’s positive analyst notes vs. legal/leadership headlines. Why Snowflake Inc. (SNOW) Outpaced the Stock Market Today
• Negative Sentiment: Multiple law firms have filed or are soliciting plaintiffs in securities class-action suits tied to a June 27, 2023–Feb 28, 2024 class period; firms are urging investors to meet an April 27 lead-plaintiff deadline — ongoing litigation risk and headline flow that can pressure the stock. ROSEN, HIGHLY RANKED INVESTOR RIGHTS COUNSEL, Encourages Snowflake Inc. Investors to Secure Counsel
• Negative Sentiment: Investors reacted earlier to a surprise sales leadership shift (CRO departure), which briefly weighed on the stock — leadership turnover remains a near-term risk until the new CRO’s impact is evident. Snowflake’s stock falls as investors weigh a surprise leadership shift

Snowflake Trading Up 1.6%

Shares of Snowflake stock opened at $153.28 on Thursday. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The stock has a market capitalization of $52.99 billion, a P/E ratio of -38.81 and a beta of 1.16. The company has a 50-day simple moving average of $176.09 and a 200 day simple moving average of $215.64. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. Research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SNOW shares. Robert W. Baird lifted their target price on shares of Snowflake from $260.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Piper Sandler dropped their price target on shares of Snowflake from $285.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $275.00 price objective on shares of Snowflake in a report on Thursday, February 26th. Finally, Argus upgraded Snowflake from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.62.

Insider Activity

In other news, Director Frank Slootman sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $206.77, for a total value of $41,354,000.00. Following the transaction, the director directly owned 50,329 shares of the company’s stock, valued at $10,406,527.33. The trade was a 79.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $219.90, for a total value of $2,199,000.00. Following the sale, the executive vice president owned 471,351 shares in the company, valued at approximately $103,650,084.90. This trade represents a 2.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 600,437 shares of company stock worth $114,140,083. Insiders own 6.80% of the company’s stock.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.