Value Star Asset Management Hong Kong Ltd Has $2.24 Million Holdings in Snowflake Inc. $SNOW

Value Star Asset Management Hong Kong Ltd boosted its stake in Snowflake Inc. (NYSE:SNOW) by 66.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,000 shares of the company’s stock after acquiring an additional 4,000 shares during the quarter. Snowflake makes up about 7.2% of Value Star Asset Management Hong Kong Ltd’s investment portfolio, making the stock its 7th biggest position. Value Star Asset Management Hong Kong Ltd’s holdings in Snowflake were worth $2,238,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new position in Snowflake in the 2nd quarter valued at approximately $25,000. Avion Wealth lifted its stake in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the last quarter. Whittier Trust Co. lifted its stake in Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. LGT Financial Advisors LLC bought a new position in shares of Snowflake during the second quarter valued at $36,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Snowflake by 748.0% during the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock valued at $31,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SNOW shares. Monness Crespi & Hardt raised their price target on shares of Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. UBS Group raised their price target on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Snowflake in a research note on Friday, October 17th. Finally, Wells Fargo & Company started coverage on shares of Snowflake in a research note on Tuesday, September 30th. They set an “overweight” rating and a $275.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.24.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 2,976 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $236.01, for a total value of $702,365.76. Following the completion of the sale, the director directly owned 34,436 shares in the company, valued at approximately $8,127,240.36. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Emily Ho sold 1,658 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total transaction of $373,464.50. Following the completion of the sale, the chief accounting officer owned 31,745 shares of the company’s stock, valued at $7,150,561.25. The trade was a 4.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,182,434 shares of company stock valued at $270,280,661. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of NYSE SNOW opened at $252.91 on Friday. Snowflake Inc. has a twelve month low of $113.23 and a twelve month high of $255.39. The firm has a fifty day simple moving average of $226.60 and a 200 day simple moving average of $204.62. The company has a market capitalization of $85.69 billion, a PE ratio of -60.94 and a beta of 1.21. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the company posted $0.18 earnings per share. On average, sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

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.