Forum Financial Management LP Has $318,000 Stock Position in Snowflake Inc. (NYSE:SNOW)

Forum Financial Management LP trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 37.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,061 shares of the company's stock after selling 1,242 shares during the period. Forum Financial Management LP's holdings in Snowflake were worth $318,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SNOW. Stonebridge Financial Group LLC acquired a new position in Snowflake during the fourth quarter worth about $29,000. West Paces Advisors Inc. acquired a new position in shares of Snowflake in the 4th quarter valued at $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake in the 4th quarter valued at $31,000. Quadrant Capital Group LLC boosted its position in shares of Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after purchasing an additional 91 shares during the period. Finally, Colonial Trust Co SC acquired a new position in shares of Snowflake in the 4th quarter valued at $33,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. The trade was a 1.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 849,779 shares of company stock valued at $158,838,193 over the last three months. Insiders own 7.80% of the company's stock.

Snowflake Stock Up 1.7%

Shares of NYSE:SNOW traded up $3.38 during mid-day trading on Friday, reaching $205.69. 7,073,445 shares of the stock were exchanged, compared to its average volume of 6,476,651. 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 company has a market cap of $68.67 billion, a P/E ratio of -60.68 and a beta of 1.11. Snowflake Inc. has a one year low of $107.13 and a one year high of $209.80. The stock's 50 day simple moving average is $162.77 and its 200-day simple moving average is $165.80.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business's revenue was up 25.8% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. As a group, equities research analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of research reports. Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Bank of America lifted their price target on Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Mizuho lifted their price target on Snowflake from $205.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. UBS Group boosted their target price on Snowflake from $200.00 to $210.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC boosted their target price on Snowflake from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $217.33.

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.