5 Best Magic Formula Stocks to Buy Now

2. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Investors As Of Q4 2023 end: 86

Gotham Asset Management’s Q4 2023 Stake: $77.8 million

Snowflake Inc. (NYSE:SNOW) is a cloud computing company that enables businesses and other customers to generate analytical insights from their data. The firm is doing well on the financial front as of late since it has beaten analyst EPS estimates in all four of its latest quarters.

During 2023’s fourth quarter, 86 out of the 933 hedge funds part of Insider Monkey’s database had bought a stake in the firm. The largest Snowflake Inc. (NYSE:SNOW) shareholder out of these is Brad Gerstner’s Altimeter Capital Management as it owns $2.4 billion worth of shares.

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