Pathway Capital Management LP Takes Position in Snowflake Inc. (NYSE:SNOW)

Pathway Capital Management LP purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, HoldingsChannel reports. The fund purchased 78,975 shares of the company’s stock, valued at approximately $15,716,000. Snowflake comprises 17.6% of Pathway Capital Management LP’s investment portfolio, making the stock its 2nd biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of SNOW. Provence Wealth Management Group bought a new position in shares of Snowflake in the 3rd quarter valued at $30,000. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. M&R Capital Management Inc. grew its holdings in shares of Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after purchasing an additional 100 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in Snowflake by 154.8% in the 3rd quarter. Valley National Advisers Inc. now owns 293 shares of the company’s stock valued at $45,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 1.9 %

NYSE SNOW traded down $3.18 on Friday, reaching $161.86. The company had a trading volume of 3,625,310 shares, compared to its average volume of 3,776,666. Snowflake Inc. has a 52-week low of $138.40 and a 52-week high of $237.72. The company’s fifty day moving average is $157.04 and its 200 day moving average is $179.65.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, analysts predict that Snowflake Inc. will post -1.83 EPS for the current fiscal year.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the transaction, the executive vice president now owns 772,597 shares in the company, valued at $124,504,006.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the sale, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total value of $2,001,149.92. Following the completion of the sale, the executive now directly owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The disclosure for this sale can be found here. Insiders have sold 62,380 shares of company stock worth $9,803,625 in the last ninety days. Company insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNOW. Rosenblatt Securities upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price target for the company in a report on Friday, April 5th. Bank of America lowered their price objective on Snowflake from $212.00 to $200.00 and set a “neutral” rating for the company in a research note on Wednesday. HSBC reiterated a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. Wedbush upped their price target on shares of Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Evercore ISI cut their price target on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $202.43.

Snowflake Company 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.