Candlestick Capital Management LP Invests $20.10 Million in Snowflake Inc. (NYSE:SNOW)

Candlestick Capital Management LP purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 130,196 shares of the company's stock, valued at approximately $20,104,000.

A number of other hedge funds have also recently made changes to their positions in SNOW. Asset Dedication LLC lifted its stake in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company's stock valued at $142,000 after buying an additional 59 shares in the last quarter. Quarry LP increased its holdings in Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after buying an additional 59 shares during the last quarter. Breakwater Capital Group increased its holdings in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after buying an additional 62 shares during the last quarter. Gabelli Funds LLC increased its holdings in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after buying an additional 65 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after purchasing an additional 69 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SNOW shares. DA Davidson decreased their target price on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $183.00 price objective on shares of Snowflake in a report on Wednesday, April 2nd. StockNews.com upgraded shares of Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. KeyCorp decreased their price objective on shares of Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Rosenblatt Securities boosted their price objective on shares of Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $200.27.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the executive vice president now directly owns 590,632 shares in the company, valued at $94,501,120. This represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 374,342 shares of company stock worth $61,578,513. 7.80% of the stock is owned by insiders.

Snowflake Trading Down 0.5 %

SNOW traded down $0.86 during trading on Wednesday, hitting $159.49. The company's stock had a trading volume of 3,364,414 shares, compared to its average volume of 6,395,221. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock's fifty day moving average price is $153.50 and its 200-day moving average price is $156.35. The firm has a market capitalization of $52.65 billion, a P/E ratio of -47.05 and a beta of 1.13.

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.