Fourier Capital Management Ltd Invests $1.77 Million in Snowflake Inc. $SNOW

Key Points

• Fourier Capital Management opened a new position in Snowflake, buying 8,060 shares worth about $1.77 million, making SNOW its 14th largest holding.
• Insider selling was notable last quarter, with directors Michael L. Speiser and Frank Slootman among those reducing their stakes; overall insiders sold 384,313 shares worth about $64.3 million.
• Snowflake’s latest earnings beat expectations, with quarterly EPS of $0.32 versus $0.27 expected and revenue of $1.28 billion, up 30.1% year over year, though analysts still expect a full-year loss.

Fourier Capital Management Ltd purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,060 shares of the company's stock, valued at approximately $1,768,000. Snowflake makes up 1.9% of Fourier Capital Management Ltd's holdings, making the stock its 14th largest holding.

Several other institutional investors also recently modified their holdings of the stock. Western Wealth Management LLC acquired a new position in shares of Snowflake during the fourth quarter worth $567,000. Strategic Family Wealth Counselors L.L.C. acquired a new position in shares of Snowflake during the fourth quarter worth $241,000. Stonebridge Financial Group LLC MO acquired a new position in shares of Snowflake during the fourth quarter worth $365,000. Summit Wealth Group LLC Co. acquired a new position in shares of Snowflake during the fourth quarter worth $251,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Snowflake during the fourth quarter worth $216,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $175.19, for a total transaction of $8,818,714.22. Following the transaction, the director owned 30,236 shares of the company's stock, valued at $5,297,044.84. This trade represents a 62.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $176.91, for a total transaction of $17,691,000.00. Following the transaction, the director directly owned 50,329 shares in the company, valued at approximately $8,903,703.39. This represents a 66.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 384,313 shares of company stock worth $64,308,373 in the last quarter. 6.80% of the stock is owned by insiders.

Snowflake Price Performance

SNOW stock opened at $152.39 on Thursday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $280.67. The stock has a market capitalization of $52.68 billion, a PE ratio of -38.58 and a beta of 1.08. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30. The company's 50-day moving average is $155.53 and its 200-day moving average is $197.77.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share 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 business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter last year, the firm earned $0.30 EPS. The firm's revenue for the quarter was up 30.1% compared to the same quarter last year. Equities research analysts expect that Snowflake Inc. will post -2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNOW. Scotiabank decreased their price objective on Snowflake from $290.00 to $205.00 and set a "sector outperform" rating for the company in a report on Thursday, February 26th. Oppenheimer restated a "buy" rating on shares of Snowflake in a report on Thursday, February 26th. Raymond James Financial restated an "outperform" rating on shares of Snowflake in a report on Monday, February 2nd. BTIG Research decreased their price objective on Snowflake from $312.00 to $235.00 and set a "buy" rating for the company in a report on Monday, February 23rd. Finally, TD Cowen decreased their price objective on Snowflake from $270.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, thirty-three have assigned 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.com, the company has an average rating of "Moderate Buy" and an average target price of $242.19.

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.

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