3,164 Shares in Snowflake Inc. $SNOW Bought by TritonPoint Partners LLC

TritonPoint Partners LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,164 shares of the company’s stock, valued at approximately $694,000.

A number of other large investors have also recently bought and sold shares of the business. Assetmark Inc. lifted its stake in shares of Snowflake by 99.1% in the 4th quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock worth $43,577,000 after acquiring an additional 98,870 shares during the period. Jennison Associates LLC lifted its stake in shares of Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after acquiring an additional 2,519,413 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter worth $116,882,000. Swedbank AB lifted its stake in shares of Snowflake by 6.0% in the 4th quarter. Swedbank AB now owns 1,330,415 shares of the company’s stock worth $291,840,000 after acquiring an additional 75,419 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Snowflake by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after acquiring an additional 857,832 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 0.2%

Shares of NYSE SNOW opened at $232.38 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The firm has a 50-day moving average price of $173.64 and a 200 day moving average price of $189.84. The stock has a market capitalization of $80.54 billion, a price-to-earnings ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the completion of the transaction, the director directly owned 29,396 shares in the company, valued at approximately $4,356,781.16. This trade represents a 63.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the transaction, the director owned 8,801 shares of the company’s stock, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,589,550 shares of company stock worth $359,438,410. 4.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Weiss Ratings cut shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Barclays raised their target price on shares of Snowflake from $272.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Cantor Fitzgerald raised their price objective on shares of Snowflake from $225.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, Oppenheimer raised their price objective on shares of Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $291.77.

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.