Triumph Capital Management Acquires 1,900 Shares of Snowflake Inc. (NYSE:SNOW)

Triumph Capital Management lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 38.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,826 shares of the company’s stock after buying 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.

A number of other large investors have also bought and sold shares of the stock. FMR LLC grew its position in Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after purchasing an additional 1,496,235 shares during the period. Winslow Capital Management LLC purchased a new position in shares of Snowflake in the 3rd quarter worth approximately $226,302,000. Vanguard Group Inc. grew its holdings 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 valued at $2,968,152,000 after acquiring an additional 743,211 shares in the last quarter. Wellington Management Group LLP boosted its position in Snowflake by 69.9% in the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after purchasing an additional 623,277 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Snowflake by 19,321.5% in the 4th quarter. International Assets Investment Management LLC now owns 508,843 shares of the company’s stock valued at $101,260,000 after purchasing an additional 506,223 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Up 0.7 %

Shares of NYSE:SNOW traded up $1.08 during trading on Wednesday, hitting $156.28. The stock had a trading volume of 1,452,838 shares, compared to its average volume of 6,422,746. The company has a market capitalization of $52.23 billion, a PE ratio of -61.06 and a beta of 0.91. The firm’s fifty day moving average is $167.16 and its 200 day moving average is $179.13. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Equities research analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, CRO Christopher William Degnan sold 12,533 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $200.04, for a total value of $2,507,101.32. Following the sale, the executive now owns 98,172 shares in the company, valued at $19,638,326.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CRO Christopher William Degnan sold 12,533 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $200.04, for a total value of $2,507,101.32. Following the transaction, the executive now owns 98,172 shares in the company, valued at approximately $19,638,326.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $111,218.38. Following the sale, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Insiders sold a total of 168,209 shares of company stock worth $34,291,592 in the last three months. 8.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Stifel Nicolaus cut their price target on Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $182.00 to $205.00 in a report on Thursday, February 29th. Bank of America cut their price objective on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Finally, KeyCorp began coverage on shares of Snowflake in a research note on Thursday, April 11th. They issued an “overweight” rating and a $185.00 target price on the stock. Two investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

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.