China Universal Asset Management Co. Ltd. Takes Position in Snowflake Inc. $SNOW

China Universal Asset Management Co. Ltd. acquired a new position in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,700 shares of the company’s stock, valued at approximately $828,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. Vanguard Group Inc. increased its stake in shares of Snowflake by 2.2% in the second quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock valued at $6,218,515,000 after purchasing an additional 595,553 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Snowflake in the 2nd quarter worth approximately $3,900,134,000. Jennison Associates LLC grew its holdings in Snowflake by 20.5% in the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after buying an additional 1,363,389 shares in the last quarter. State Street Corp increased its position in Snowflake by 1.4% in the 2nd quarter. State Street Corp now owns 6,887,073 shares of the company’s stock valued at $1,541,120,000 after acquiring an additional 94,293 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in Snowflake by 15.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock valued at $1,108,045,000 after acquiring an additional 652,485 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE:SNOW opened at $217.95 on Monday. The company has a 50-day moving average of $250.24 and a 200-day moving average of $227.51. The firm has a market cap of $74.58 billion, a price-to-earnings ratio of -53.95 and a beta of 1.09. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 earnings per share. Analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $230.65, for a total transaction of $92,951.95. Following the completion of the sale, the director directly owned 24,524 shares of the company’s stock, valued at $5,656,460.60. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 548 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $223.31, for a total transaction of $122,373.88. Following the completion of the sale, the executive vice president owned 510,435 shares of the company’s stock, valued at approximately $113,985,239.85. This trade represents a 0.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 221,360 shares of company stock worth $53,391,315. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SNOW shares. Jefferies Financial Group set a $300.00 price target on Snowflake in a research report on Monday, November 24th. Scotiabank reaffirmed an “outperform” rating on shares of Snowflake in a report on Thursday, December 4th. Wells Fargo & Company increased their target price on shares of Snowflake from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Robert W. Baird boosted their price target on shares of Snowflake from $260.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Finally, Truist Financial upped their price target on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $274.78.

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.