TB Alternative Assets Ltd. Has $5.21 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

TB Alternative Assets Ltd. lifted its position in Snowflake Inc. (NYSE:SNOW) by 1,188.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,659 shares of the company’s stock after acquiring an additional 32,892 shares during the period. Snowflake makes up approximately 1.2% of TB Alternative Assets Ltd.’s holdings, making the stock its 23rd biggest holding. TB Alternative Assets Ltd.’s holdings in Snowflake were worth $5,212,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after acquiring an additional 8,857 shares during the period. Kirtland Hills Capital Management LLC raised its position in shares of Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock valued at $2,458,000 after acquiring an additional 4,559 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Snowflake by 455.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company’s stock valued at $19,174,000 after acquiring an additional 101,806 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in Snowflake during the 4th quarter worth approximately $3,088,000. Finally, GraniteShares Advisors LLC bought a new position in Snowflake in the fourth quarter valued at approximately $781,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Snowflake from $236.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday. Mizuho upped their price target on shares of Snowflake from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday. Cantor Fitzgerald upped their price target on shares of Snowflake from $183.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, May 22nd. Cowen reiterated a “buy” rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Evercore ISI reiterated a “buy” rating on shares of Snowflake in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.97.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,783 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 685 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the sale, the executive vice president now directly owns 622,611 shares of the company’s stock, valued at approximately $91,673,243.64. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 849,779 shares of company stock worth $159,318,643 over the last ninety days. Insiders own 6.80% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW opened at $210.78 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $214.83. The company has a market cap of $70.37 billion, a P/E ratio of -62.18 and a beta of 1.21. The firm’s fifty day moving average price is $169.37 and its two-hundred day moving average price is $169.43. 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 (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company earned $0.14 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

About Snowflake

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.