Katamaran Capital LLP Takes Position in Snowflake Inc. $SNOW

Katamaran Capital LLP purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,640 shares of the company’s stock, valued at approximately $2,851,000. Snowflake accounts for about 2.6% of Katamaran Capital LLP’s portfolio, making the stock its 17th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Coastline Trust Co raised its position in shares of Snowflake by 1.0% in the third quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock valued at $943,000 after buying an additional 42 shares in the last quarter. Wedbush Securities Inc. increased its stake in Snowflake by 1.3% during the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after acquiring an additional 48 shares during the period. Avion Wealth raised its holdings in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares in the last quarter. CX Institutional raised its holdings in Snowflake by 13.2% in the 3rd quarter. CX Institutional now owns 421 shares of the company’s stock valued at $95,000 after acquiring an additional 49 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Snowflake by 44.1% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock valued at $36,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $175.89 on Tuesday. The stock has a market cap of $60.19 billion, a P/E ratio of -43.54 and a beta of 1.14. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The stock’s 50-day moving average is $214.05 and its 200-day moving average is $226.33. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $0.20 EPS. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. Equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Ratings Changes

SNOW has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and issued a $299.00 price target on shares of Snowflake in a research report on Tuesday, January 27th. DA Davidson reissued a “buy” rating and issued a $300.00 target price on shares of Snowflake in a report on Friday, January 30th. Oppenheimer restated an “outperform” rating on shares of Snowflake in a research report on Friday, November 21st. JMP Securities increased their price target on shares of Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 28th. Finally, Evercore lifted their price objective on shares of Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.58.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $230.65, for a total transaction of $11,610,459.70. Following the transaction, the director directly owned 32,756 shares of the company’s stock, valued at approximately $7,555,171.40. The trade was a 60.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total value of $2,601,412.44. Following the completion of the sale, the senior vice president owned 218,020 shares in the company, valued at $48,060,328.80. This trade represents a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 613,681 shares of company stock worth $130,573,518 in the last three months. 6.80% of the stock is currently owned by company insiders.

About Snowflake

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.