Fourth Dimension Wealth LLC Invests $208,000 in Snowflake Inc. (NYSE:SNOW)

Fourth Dimension Wealth LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,348 shares of the company's stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNOW. Prospect Financial Services LLC acquired a new position in Snowflake during the 4th quarter worth approximately $288,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after purchasing an additional 8,857 shares during the period. Stephens Consulting LLC lifted its position in shares of Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock worth $313,000 after purchasing an additional 2,000 shares in the last quarter. Kirtland Hills Capital Management LLC boosted its stake in shares of Snowflake by 40.1% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock valued at $2,458,000 after purchasing an additional 4,559 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Snowflake by 455.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock valued at $19,174,000 after purchasing an additional 101,806 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Transactions at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction on 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 $47,756,878.10. This trade represents a 50.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 356,963 shares of company stock valued at $58,204,058 in the last three months. 7.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SNOW has been the topic of several analyst reports. Monness Crespi & Hardt lifted their price target on shares of Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $205.00 target price on shares of Snowflake in a research report on Monday, May 19th. JPMorgan Chase & Co. boosted their price target on Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Morgan Stanley restated an "equal weight" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group upped their target price on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $217.33.

Snowflake Price Performance

NYSE SNOW traded up $0.53 on Wednesday, reaching $206.88. The company's stock had a trading volume of 1,967,483 shares, compared to its average volume of 6,469,001. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $209.46. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm's 50 day moving average is $161.07 and its two-hundred day moving average is $164.98. The stock has a market cap of $68.29 billion, a PE ratio of -61.00 and a beta of 1.11.

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

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.