Q Fund Management Hong Kong Ltd Makes New $4.52 Million Investment in Snowflake Inc. $SNOW

Q Fund Management Hong Kong Ltd purchased a new position in Snowflake Inc. (NYSE:SNOW) during the second quarter, Holdings Channel reports. The fund purchased 20,200 shares of the company’s stock, valued at approximately $4,520,000. Snowflake makes up about 2.5% of Q Fund Management Hong Kong Ltd’s investment portfolio, making the stock its 13th biggest position.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new position in Snowflake in the second quarter valued at $25,000. Avion Wealth lifted its stake in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the last quarter. Rossby Financial LCC boosted its holdings in shares of Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. increased its position in shares of Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Snowflake by 417.2% during the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after buying an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.7%

NYSE SNOW opened at $224.99 on Tuesday. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The stock has a market capitalization of $76.23 billion, a PE ratio of -55.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The business’s 50-day moving average is $251.32 and its 200 day moving average is $227.03.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative return on equity of 43.84% and a negative net margin of 30.76%.The business’s revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. Sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on SNOW shares. KeyCorp lifted their price target on shares of Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial boosted 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. Jefferies Financial Group set a $300.00 price objective on Snowflake in a research note on Monday, November 24th. JPMorgan Chase & Co. lifted their price objective on Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, Raymond James Financial increased their target price on Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two equities research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $274.78.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the sale, the executive vice president owned 512,450 shares of the company’s stock, valued at approximately $127,871,648.50. The trade was a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $230.65, for a total transaction of $92,951.95. Following the transaction, the director owned 24,524 shares in the company, valued at $5,656,460.60. This represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 218,819 shares of company stock worth $52,823,885. 6.80% of the stock is currently owned by company insiders.

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.