TB Alternative Assets Ltd. Takes $427,000 Position in Snowflake Inc. (NYSE:SNOW)

TB Alternative Assets Ltd. purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,767 shares of the company’s stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment acquired a new stake in shares of Snowflake during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake in the third quarter valued at approximately $30,000. Fortitude Family Office LLC acquired a new position in shares of Snowflake during the 3rd quarter worth approximately $34,000. Perkins Coie Trust Co lifted its position in shares of 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 buying an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Snowflake by 81.3% in the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 1.9 %

SNOW opened at $170.89 on Tuesday. The business has a fifty day moving average price of $162.06 and a 200 day moving average price of $135.12. 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 Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a market capitalization of $56.41 billion, a price-to-earnings ratio of -50.41 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price objective on shares of Snowflake in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. KeyCorp raised their target price on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Loop Capital increased their price objective on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $188.06.

Insider Activity

In other news, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is currently owned by company 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.