Twinbeech Capital LP Has $3.17 Million Position in Snowflake Inc. (NYSE:SNOW)

Twinbeech Capital LP cut its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 94.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,548 shares of the company's stock after selling 367,255 shares during the period. Twinbeech Capital LP's holdings in Snowflake were worth $3,173,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SNOW. Asset Dedication LLC grew its position in Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company's stock valued at $142,000 after acquiring an additional 59 shares in the last quarter. Quarry LP boosted its stake in shares of Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after purchasing an additional 59 shares during the last quarter. Gabelli Funds LLC raised its holdings in Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after buying an additional 65 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after acquiring an additional 69 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock worth $64,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Snowflake Trading Down 1.6%

NYSE:SNOW traded down $3.19 during midday trading on Friday, reaching $199.99. 11,901,781 shares of the stock traded hands, compared to its average volume of 6,472,455. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $205.16. The stock has a market capitalization of $66.02 billion, a P/E ratio of -58.99 and a beta of 1.11. The company has a fifty day moving average of $158.29 and a 200 day moving average of $162.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

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

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now directly owns 594,975 shares in the company, valued at $102,186,956.25. The trade was a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 1,783 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the transaction, the director now directly owns 192,511 shares in the company, valued at $28,345,319.64. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,963 shares of company stock valued at $58,204,058 over the last ninety days. Corporate insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SNOW shares. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a report on Thursday. Cantor Fitzgerald boosted their target price on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday. DA Davidson boosted their target price on Snowflake from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Snowflake in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $216.46.

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.