Vinva Investment Management Ltd Acquires 5,605 Shares of Snowflake Inc. (NYSE:SNOW)

Vinva Investment Management Ltd raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 59.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,989 shares of the company’s stock after acquiring an additional 5,605 shares during the quarter. Vinva Investment Management Ltd’s holdings in Snowflake were worth $2,323,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Toronto Dominion Bank boosted its holdings in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the last quarter. Prospect Financial Services LLC bought a new position in Snowflake during the 4th quarter worth $288,000. Independent Advisor Alliance increased its position in Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after buying an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC acquired a new position in Snowflake in the fourth quarter valued at about $5,851,000. 65.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of analyst reports. KeyCorp boosted their price target on Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Oppenheimer boosted their target price on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Needham & Company LLC boosted their target price on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Piper Sandler boosted their target price on Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Mizuho boosted their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.08.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,783 shares of the stock in a transaction on 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 directly owns 192,511 shares of the company’s stock, valued at $28,345,319.64. The trade was a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 298,429 shares of company stock valued at $50,065,812 over the last ninety days. 7.80% of the stock is owned by company insiders.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $155.89 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The stock’s 50 day moving average is $172.91 and its 200-day moving average is $148.98. The firm has a market capitalization of $51.46 billion, a price-to-earnings ratio of -45.98 and a beta of 1.07.

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.