8,060 Shares in Snowflake Inc. $SNOW Purchased by Fourier Capital Management Ltd

Fourier Capital Management Ltd acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,060 shares of the company’s stock, valued at approximately $1,768,000. Snowflake comprises approximately 1.9% of Fourier Capital Management Ltd’s holdings, making the stock its 14th largest holding.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the period. Intech Investment Management LLC grew its holdings in Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after purchasing an additional 2,167 shares during the period. Geneos Wealth Management Inc. increased its position in Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in shares of Snowflake in the second quarter valued at $221,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Snowflake by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after buying an additional 1,521 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $141.59, for a total transaction of $57,060.77. Following the completion of the sale, the director directly owned 22,509 shares in the company, valued at $3,187,049.31. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,621 shares of Snowflake stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $170.01, for a total transaction of $445,596.21. Following the sale, the executive vice president owned 533,494 shares of the company’s stock, valued at approximately $90,699,314.94. The trade was a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 384,313 shares of company stock valued at $64,308,373 over the last quarter. Company insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNOW. KeyCorp cut their price target on Snowflake from $235.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Zacks Research upgraded Snowflake from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Truist Financial set a $125.00 target price on shares of Snowflake in a research report on Wednesday, April 15th. Stifel Nicolaus set a $205.00 target price on shares of Snowflake in a research note on Thursday, February 26th. Finally, Morgan Stanley lowered their price target on shares of Snowflake from $270.00 to $245.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $242.19.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $152.39 on Thursday. The company has a 50 day moving average of $155.53 and a 200 day moving average of $197.77. The stock has a market cap of $52.68 billion, a P/E ratio of -38.58 and a beta of 1.08. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $280.67. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. Snowflake’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.16 EPS for the current fiscal year.

Snowflake Company Profile

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.