Katamaran Capital LLP Has $4.84 Million Holdings in Snowflake Inc. $SNOW

Key Points

• Katamaran Capital LLP boosted its Snowflake stake by 74.7% in Q4, ending with 22,076 shares worth about $4.84 million. Snowflake now represents roughly 3.7% of the fund’s portfolio.
• Snowflake’s recent earnings beat Wall Street expectations, reporting $0.32 EPS on $1.28 billion in revenue, with revenue up 30.1% year over year. Despite the beat, the company remains unprofitable and analysts expect a full-year loss.
• Analyst sentiment remains generally positive but cautious: the stock has a consensus rating of Moderate Buy with an average price target of $242.19, though several firms recently cut targets. Meanwhile, company insiders sold shares in March, including EVP Christian Kleinerman and CAO Emily Ho.

Katamaran Capital LLP raised its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 74.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,076 shares of the company's stock after acquiring an additional 9,436 shares during the quarter. Snowflake makes up approximately 3.7% of Katamaran Capital LLP's investment portfolio, making the stock its 10th largest position. Katamaran Capital LLP's holdings in Snowflake were worth $4,843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Grey Fox Wealth Advisors LLC bought a new position in shares of Snowflake in the third quarter worth about $25,000. GoalVest Advisory LLC lifted its holdings in shares of Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company's stock worth $30,000 after acquiring an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after acquiring an additional 51 shares during the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock worth $33,000 after acquiring an additional 50 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Snowflake in the third quarter worth about $34,000. Institutional investors own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Snowflake in a report on Wednesday, January 21st. The Goldman Sachs Group lowered their price objective on Snowflake from $286.00 to $246.00 and set a "buy" rating for the company in a research note on Wednesday, February 11th. Morgan Stanley lowered their price objective on Snowflake from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Piper Sandler lowered their price objective on Snowflake from $285.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Finally, Evercore set a $200.00 price objective on Snowflake in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $242.19.

Snowflake Stock Performance

Snowflake stock opened at $152.24 on Monday. The business has a 50 day moving average of $157.00 and a 200-day moving average of $200.44. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $280.67. 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 has a market capitalization of $52.63 billion, a P/E ratio of -38.54 and a beta of 1.08.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The company's revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, equities research analysts predict that Snowflake Inc. will post -2.16 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 2,621 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $170.01, for a total transaction of $445,596.21. Following the completion of the sale, the executive vice president owned 533,494 shares of the company's stock, valued at approximately $90,699,314.94. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Emily Ho sold 2,141 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $173.97, for a total transaction of $372,469.77. Following the sale, the chief accounting officer directly owned 44,553 shares of the company's stock, valued at $7,750,885.41. This represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 384,313 shares of company stock worth $64,308,373. Company insiders own 6.80% of the company's stock.

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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.