TB Alternative Assets Ltd. Buys New Stake in Snowflake Inc. (NYSE:SNOW)

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

Several other large investors also recently bought and sold shares of SNOW. Ontario Teachers Pension Plan Board grew its position in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Two Sigma Advisers LP grew its position in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the last quarter. AQR Capital Management LLC increased its stake in Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares during the period. SG Americas Securities LLC raised its holdings in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after buying an additional 628,511 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Snowflake by 12,318.3% during the third quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock worth $60,977,000 after buying an additional 526,608 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SNOW shares. Wedbush downgraded Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. KeyCorp increased their price target on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Piper Sandler raised their target price on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.06.

Snowflake Trading Up 1.9 %

Shares of SNOW stock opened at $170.89 on Tuesday. The company has a market capitalization of $56.41 billion, a price-to-earnings ratio of -50.41 and a beta of 1.05. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $162.06 and a 200 day moving average price of $135.12. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock valued at $62,545,855 over the last 90 days. Insiders own 7.80% of the company’s stock.

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.