Trivium Point Advisory LLC Takes Position in Snowflake Inc. $SNOW

Trivium Point Advisory LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 990 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in Snowflake during the 1st quarter worth approximately $26,000. CVA Family Office LLC lifted its holdings in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Snowflake by 748.0% during the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after purchasing an additional 187 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in Snowflake by 53.1% during the 1st quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock worth $36,000 after purchasing an additional 85 shares during the last quarter. Finally, CX Institutional acquired a new stake in Snowflake during the 1st quarter worth approximately $42,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Snowflake stock opened at $230.45 on Thursday. The stock’s fifty day moving average price is $215.11 and its two-hundred day moving average price is $194.48. Snowflake Inc. has a one year low of $108.71 and a one year high of $249.99. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $78.08 billion, a PE ratio of -55.53 and a beta of 1.21.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm earned $0.18 EPS. Snowflake’s revenue was up 31.8% on a year-over-year basis. As a group, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares of the company’s stock, valued at approximately $38,144,398.29. The trade was a 81.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $221.47, for a total value of $11,148,356.86. Following the transaction, the director directly owned 36,956 shares of the company’s stock, valued at $8,184,645.32. This trade represents a 57.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,579,829 shares of company stock valued at $358,117,551. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several research reports. Macquarie lifted their price target on Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. KeyCorp lifted their price target on Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Sanford C. Bernstein lifted their price target on Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised their price objective on Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Finally, Barclays raised their price objective on Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $255.53.

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.