Fourpath Capital Management LLC Makes New $235,000 Investment in Snowflake Inc. $SNOW

Key Points

• Fourpath Capital Management LLC made a new investment in Snowflake Inc., purchasing 1,049 shares valued at approximately $235,000 during the 2nd quarter.
• Snowflake's stock is currently down 3.3%, with a market cap of $82.17 billion and recent earnings reporting a revenue of $1.14 billion, exceeding analysts' expectations.
• Analysts maintain a positive outlook on Snowflake, with upgraded price targets ranging from $250.00 to $280.00 and a consensus rating of "Moderate Buy."

Fourpath Capital Management LLC bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,049 shares of the company's stock, valued at approximately $235,000.

Other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake in the 1st quarter worth $26,000. CVA Family Office LLC lifted its holdings in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Snowflake by 748.0% in the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company's stock worth $31,000 after buying an additional 187 shares during the period. Tradewinds Capital Management LLC lifted its holdings in shares of Snowflake by 53.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 245 shares of the company's stock worth $36,000 after buying an additional 85 shares during the period. Finally, CX Institutional purchased a new stake in shares of Snowflake in the 1st quarter worth $42,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Down 3.3%

Snowflake stock opened at $242.52 on Friday. The stock has a 50-day moving average of $218.64 and a two-hundred day moving average of $198.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a one year low of $113.23 and a one year high of $255.39. The stock has a market cap of $82.17 billion, a PE ratio of -58.44 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same period last year, the business posted $0.18 earnings per share. The firm's revenue was up 31.8% compared to the same quarter last year. On average, research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Oppenheimer upped their price objective on Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Scotiabank upped their price objective on Snowflake from $230.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Citigroup restated an "outperform" rating on shares of Snowflake in a research note on Thursday, August 28th. The Goldman Sachs Group upped their price objective on Snowflake from $230.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Finally, CICC Research assumed coverage on Snowflake in a research note on Friday, June 20th. They set an "outperform" rating and a $225.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $256.18.

Insider Buying and Selling

In other news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares of the company's stock, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 2,976 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $236.01, for a total value of $702,365.76. Following the completion of the transaction, the director directly owned 34,436 shares in the company, valued at $8,127,240.36. This represents a 7.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,182,434 shares of company stock valued at $270,280,661 in the last 90 days. 6.80% of the stock is owned by insiders.

Snowflake Profile

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.

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