TritonPoint Partners LLC Buys Shares of 3,164 Snowflake Inc. $SNOW

TritonPoint Partners LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, Holdings Channel.com reports. The fund bought 3,164 shares of the company’s stock, valued at approximately $694,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after buying an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Snowflake during the second quarter worth about $221,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Snowflake by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock worth $5,055,000 after buying an additional 1,521 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Snowflake from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. HSBC set a $289.00 price target on shares of Snowflake and gave the stock a “buy” rating in a report on Friday, May 29th. Wedbush lifted their price target on shares of Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Finally, Canaccord Genuity Group lifted their price target on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $291.77.

Snowflake Price Performance

SNOW opened at $232.38 on Monday. The company’s 50 day simple moving average is $173.64 and its 200 day simple moving average is $189.84. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The stock has a market capitalization of $80.54 billion, a PE ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts expect that Snowflake Inc. will post -1.87 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of Snowflake stock in a transaction that occurred on 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 directly owned 8,801 shares of the company’s stock, valued at $2,200,250. The trade was a 91.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 437,076 shares of Snowflake stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the transaction, the director directly owned 38,046 shares in the company, valued at approximately $9,603,951.78. This trade represents a 91.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,589,550 shares of company stock valued at $359,438,410 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Snowflake Profile

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.