Snowflake Inc. (NYSE:SNOW) Shares Acquired by Triumph Capital Management

Triumph Capital Management raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 38.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,826 shares of the company’s stock after purchasing an additional 1,900 shares during the period. Triumph Capital Management’s holdings in Snowflake were worth $1,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNOW. FMR LLC boosted its position in shares of Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after buying an additional 1,496,235 shares during the period. Winslow Capital Management LLC acquired a new position in Snowflake during the 3rd quarter worth $226,302,000. Vanguard Group Inc. grew its stake in shares of Snowflake by 4.0% in the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after purchasing an additional 743,211 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Snowflake by 69.9% during the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after purchasing an additional 623,277 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Snowflake by 19,321.5% in the fourth quarter. International Assets Investment Management LLC now owns 508,843 shares of the company’s stock worth $101,260,000 after purchasing an additional 506,223 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Benoit Dageville sold 689 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the sale, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at approximately $40,555,593.59. The disclosure for this sale can be found here. Insiders sold a total of 168,209 shares of company stock valued at $34,291,592 over the last quarter. Corporate insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Raymond James boosted their price target on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price target (down from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Piper Sandler reissued an “overweight” rating and issued a $250.00 price objective on shares of Snowflake in a research note on Tuesday, February 27th. Royal Bank of Canada decreased their target price on Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Finally, Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Price Performance

Shares of SNOW traded up $1.08 on Wednesday, hitting $156.28. The company’s stock had a trading volume of 1,452,838 shares, compared to its average volume of 6,422,746. The company has a 50 day moving average price of $167.16 and a 200 day moving average price of $179.13. Snowflake Inc. has a fifty-two week low of $138.40 and a fifty-two week high of $237.72. The company has a market capitalization of $52.23 billion, a PE ratio of -61.06 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. On average, equities analysts forecast that Snowflake Inc. will post -1.9 EPS for the current year.

About Snowflake

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.