3,700 Shares in Snowflake Inc. $SNOW Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,700 shares of the company’s stock, valued at approximately $828,000.

A number of other institutional investors have also recently added to or reduced their stakes in SNOW. Capital Advantage Inc. lifted its stake in shares of Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after purchasing an additional 48 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Snowflake by 1.3% during the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after buying an additional 48 shares during the period. Avion Wealth raised its holdings in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 49 shares during the period. Insigneo Advisory Services LLC lifted its position in Snowflake by 1.3% during the 2nd quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company’s stock worth $896,000 after acquiring an additional 52 shares in the last quarter. Finally, Advyzon Investment Management LLC boosted its holdings in Snowflake by 3.8% in the 2nd quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock worth $340,000 after acquiring an additional 55 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Down 1.2%

NYSE:SNOW opened at $217.95 on Monday. The company has a market capitalization of $74.58 billion, a price-to-earnings ratio of -53.95 and a beta of 1.09. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The stock has a 50-day simple moving average of $250.24 and a 200 day simple moving average of $227.51. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.Snowflake’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. Sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group reiterated a “buy” rating on shares of Snowflake in a research note on Thursday, December 4th. Mizuho lifted their price target on shares of Snowflake from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Robert W. Baird upped their price objective 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. Truist Financial lifted their target price on Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Morgan Stanley boosted their price target on Snowflake from $272.00 to $299.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $274.78.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 7,551 shares of Snowflake stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total value of $1,670,583.24. Following the completion of the transaction, the director directly owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. The trade was a 4.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the sale, the executive vice president owned 532,450 shares in the company, valued at approximately $119,204,906. This trade represents a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 221,360 shares of company stock valued at $53,391,315. Company insiders own 6.80% of the company’s stock.

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.