Katamaran Capital LLP Buys Shares of 12,640 Snowflake Inc. $SNOW

Katamaran Capital LLP purchased a new position in Snowflake Inc. (NYSE:SNOW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,640 shares of the company’s stock, valued at approximately $2,851,000. Snowflake accounts for approximately 2.6% of Katamaran Capital LLP’s investment portfolio, making the stock its 17th largest position.

A number of other institutional investors also recently modified their holdings of SNOW. AlTi Global Inc. increased its position in shares of Snowflake by 9.3% during the third quarter. AlTi Global Inc. now owns 24,563 shares of the company’s stock worth $5,540,000 after buying an additional 2,100 shares during the period. Linden Thomas Advisory Services LLC boosted its position in Snowflake by 2.1% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,797 shares of the company’s stock valued at $2,886,000 after acquiring an additional 263 shares during the last quarter. RFG Advisory LLC grew its holdings in Snowflake by 45.5% during the 3rd quarter. RFG Advisory LLC now owns 2,448 shares of the company’s stock worth $552,000 after acquiring an additional 765 shares during the period. Smartleaf Asset Management LLC grew its holdings in Snowflake by 98.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,354 shares of the company’s stock worth $305,000 after acquiring an additional 672 shares during the period. Finally, Alps Advisors Inc. raised its position in shares of Snowflake by 15.3% in the 3rd quarter. Alps Advisors Inc. now owns 17,528 shares of the company’s stock worth $3,953,000 after acquiring an additional 2,330 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on SNOW shares. Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Snowflake in a research report on Thursday, December 4th. Jefferies Financial Group set a $300.00 price target on Snowflake in a report on Monday, November 24th. KeyCorp raised their price objective on shares of Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Cantor Fitzgerald boosted their target price on shares of Snowflake from $275.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Stifel Nicolaus increased their target price on shares of Snowflake from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $275.58.

Snowflake Stock Up 4.4%

Shares of NYSE SNOW opened at $175.89 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37. 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 $60.19 billion, a P/E ratio of -43.54 and a beta of 1.14. The company has a 50-day moving average price of $214.05 and a 200-day moving average price of $226.33.

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

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $230.65, for a total value of $11,610,459.70. Following the completion of the sale, the director directly owned 32,756 shares of the company’s stock, valued at approximately $7,555,171.40. This represents a 60.58% 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 200,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $221.83, for a total value of $44,366,000.00. Following the transaction, the director owned 50,329 shares in the company, valued at approximately $11,164,482.07. This trade represents a 79.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 613,681 shares of company stock worth $130,573,518 over the last three months. Company insiders own 6.80% of the company’s stock.

About Snowflake

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.