Trivest Advisors Ltd Buys New Shares in Snowflake Inc. $SNOW

Trivest Advisors Ltd acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, Holdings Channel reports. The firm acquired 215,000 shares of the company’s stock, valued at approximately $48,111,000. Snowflake comprises approximately 1.9% of Trivest Advisors Ltd’s portfolio, making the stock its 19th largest position.

Several other large investors have also made changes to their positions in the business. Capital Advantage Inc. lifted its position in shares of Snowflake by 1.1% in the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares in the last quarter. Avion Wealth lifted its position in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares in the last quarter. Ignite Planners LLC lifted its position in shares of Snowflake by 2.3% in the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after acquiring an additional 64 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Snowflake by 4.2% in the second quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock valued at $359,000 after acquiring an additional 64 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its position in shares of Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after acquiring an additional 68 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Down 0.2%

Shares of SNOW stock opened at $264.93 on Thursday. The stock’s 50-day moving average price is $239.59 and its 200-day moving average price is $213.31. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12-month low of $118.80 and a 12-month high of $280.67. The stock has a market capitalization of $89.76 billion, a price-to-earnings ratio of -63.84 and a beta of 1.23.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. Equities research analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the sale, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Emily Ho sold 1,658 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total value of $373,464.50. Following the sale, the chief accounting officer directly owned 31,745 shares in the company, valued at $7,150,561.25. The trade was a 4.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 880,647 shares of company stock valued at $203,522,973. Insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SNOW. KeyCorp boosted their price objective on Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Truist Financial boosted their price objective on Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Thursday, August 28th. Monness Crespi & Hardt lifted their target price on Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Snowflake in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $258.95.

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.