2,090 Shares of Snowflake Inc. $SNOW Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,090 shares of the company’s stock, valued at approximately $693,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SNOW. Janus Henderson Group PLC boosted its position in shares of Snowflake by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after purchasing an additional 544,960 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Snowflake by 134.5% in the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company’s stock worth $268,351,000 after purchasing an additional 453,342 shares in the last quarter. Swedbank AB boosted its holdings in shares of Snowflake by 24.0% during the first quarter. Swedbank AB now owns 1,649,771 shares of the company’s stock worth $248,818,000 after purchasing an additional 319,356 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in Snowflake by 76.9% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company’s stock valued at $176,736,000 after buying an additional 509,230 shares during the period. Finally, National Pension Service increased its stake in Snowflake by 3.3% in the 2nd quarter. National Pension Service now owns 690,349 shares of the company’s stock valued at $175,694,000 after buying an additional 21,915 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research analyst reports. TD Cowen boosted their price target on shares of Snowflake from $370.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Citigroup increased their price objective on Snowflake from $395.00 to $490.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Rosenblatt Securities lifted their price objective on Snowflake from $285.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Scotiabank reissued a “sector outperform” rating and set a $440.00 price objective (up from $320.00) on shares of Snowflake in a research report on Thursday, September 3rd. Finally, Monness Crespi & Hardt boosted their target price on Snowflake from $380.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Thirty-six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $413.87.

Snowflake Stock Performance

SNOW opened at $304.86 on Friday. The company has a market cap of $107.55 billion, a PE ratio of -95.87 and a beta of 1.35. The stock has a 50-day moving average of $331.88 and a 200-day moving average of $239.75. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $384.56. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company earned $0.35 EPS. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. As a group, equities research analysts forecast that Snowflake Inc. will post -1.42 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $353.87, for a total value of $17,813,108.06. Following the transaction, the director directly owned 25,196 shares in the company, valued at approximately $8,916,108.52. The trade was a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $325.00, for a total value of $8,125,000.00. Following the transaction, the executive vice president directly owned 340,379 shares of the company’s stock, valued at $110,623,175. This represents a 6.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,216,443 shares of company stock worth $399,836,828 in the last 90 days. Insiders own 4.80% of the company’s stock.

About Snowflake

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.