19,564 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Strategic Vision Investment Ltd

Strategic Vision Investment Ltd purchased a new position in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,564 shares of the company’s stock, valued at approximately $3,893,000. Snowflake comprises 3.6% of Strategic Vision Investment Ltd’s investment portfolio, making the stock its 4th largest position.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in Snowflake during the 4th quarter valued at $477,435,000. FMR LLC raised its stake in Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC bought a new stake in Snowflake during the 3rd quarter valued at $226,302,000. Renaissance Technologies LLC bought a new stake in Snowflake during the 1st quarter valued at $176,499,000. Finally, Vanguard Group Inc. raised its stake in shares of Snowflake by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after buying an additional 743,211 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Snowflake news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank Slootman sold 86,078 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the completion of the sale, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at approximately $40,555,593.59. The disclosure for this sale can be found here. Insiders sold 179,055 shares of company stock valued at $36,633,917 over the last quarter. Insiders own 8.30% of the company’s stock.

Snowflake Price Performance

SNOW traded down $1.68 during trading on Wednesday, reaching $150.30. 4,705,665 shares of the stock traded hands, compared to its average volume of 5,239,566. The stock has a market cap of $50.23 billion, a price-to-earnings ratio of -58.94 and a beta of 0.91. Snowflake Inc. has a fifty-two week low of $135.26 and a fifty-two week high of $237.72. The stock’s 50-day simple moving average is $182.44 and its two-hundred day simple moving average is $179.47.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Research analysts anticipate that Snowflake Inc. will post -1.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SNOW. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Citigroup dropped their price objective on Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. JPMorgan Chase & Co. dropped their price objective on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Raymond James boosted their price objective on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, UBS Group boosted their price objective on Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

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.