TB Alternative Assets Ltd. Acquires New Shares in Snowflake Inc. $SNOW

TB Alternative Assets Ltd. acquired a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,768 shares of the company’s stock, valued at approximately $10,040,000. Snowflake makes up approximately 1.6% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 14th largest position.

Several other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after acquiring an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after acquiring an additional 73 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Snowflake by 6.0% in the 2nd quarter. Mackenzie Financial Corp now owns 28,296 shares of the company’s stock valued at $6,332,000 after acquiring an additional 1,601 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new position in shares of Snowflake in the 2nd quarter valued at approximately $206,000. 65.10% of the stock is currently owned by institutional investors.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 2,621 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $170.01, for a total transaction of $445,596.21. Following the completion of the transaction, the executive vice president owned 533,494 shares of the company’s stock, valued at approximately $90,699,314.94. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $175.19, for a total transaction of $8,818,714.22. Following the transaction, the director directly owned 30,236 shares of the company’s stock, valued at $5,297,044.84. This represents a 62.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 600,437 shares of company stock valued at $114,140,083 in the last quarter. Company insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $153.28 on Thursday. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The company has a market cap of $52.99 billion, a P/E ratio of -38.81 and a beta of 1.16. The business’s 50 day moving average is $176.09 and its two-hundred day moving average is $215.64. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business earned $0.30 earnings per share. Snowflake’s revenue for the quarter was up 30.1% compared to the same quarter last year. On average, equities analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent analyst reports. Mizuho decreased their target price on Snowflake from $285.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Barclays dropped their price target on shares of Snowflake from $204.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $275.00 price objective on shares of Snowflake in a report on Thursday, February 26th. Sanford C. Bernstein lowered their target price on shares of Snowflake from $237.00 to $195.00 and set a “market perform” rating on the stock in a research note on Thursday, February 26th. Finally, Scotiabank dropped their target price on shares of Snowflake from $290.00 to $205.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $249.62.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Benchmark initiated coverage with a Buy and $190 price target, calling Snowflake a top AI infrastructure pick and citing a large ($500B+) AI Data Cloud TAM — supports upside vs. current valuation. Wall Street Calls Snowflake a Top AI Infrastructure Pick
• Positive Sentiment: Analysts (RBC and others) are pointing to rising AI workloads and ongoing data-cloud adoption as structural drivers for Snowflake’s revenue growth — supportive for medium-term demand expectations. Snowflake Outlook Backed by AI Demand, Data Cloud Adoption RBC Says
• Positive Sentiment: Morningstar expanded the investment datasets available on Snowflake Marketplace, increasing the usefulness of Snowflake for institutional workflows and the Marketplace monetization opportunity. Morningstar Expands Investment Data Available on Snowflake Marketplace
• Positive Sentiment: Snowflake promoted longtime leader Jonathan Beaulier to Chief Revenue Officer — an insider with a track record at the company who will oversee revenue and go-to-market execution. That reduces uncertainty around sales leadership after recent moves. Snowflake Appoints Jonathan Beaulier as Chief Revenue Officer
• Neutral Sentiment: Market headlines note Snowflake outpaced the market today — a descriptive piece that reflects the net effect of the day’s positive analyst notes vs. legal/leadership headlines. Why Snowflake Inc. (SNOW) Outpaced the Stock Market Today
• Negative Sentiment: Multiple law firms have filed or are soliciting plaintiffs in securities class-action suits tied to a June 27, 2023–Feb 28, 2024 class period; firms are urging investors to meet an April 27 lead-plaintiff deadline — ongoing litigation risk and headline flow that can pressure the stock. ROSEN, HIGHLY RANKED INVESTOR RIGHTS COUNSEL, Encourages Snowflake Inc. Investors to Secure Counsel
• Negative Sentiment: Investors reacted earlier to a surprise sales leadership shift (CRO departure), which briefly weighed on the stock — leadership turnover remains a near-term risk until the new CRO’s impact is evident. Snowflake’s stock falls as investors weigh a surprise leadership shift

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.