Trivest Advisors Ltd Buys Shares of 266,000 Snowflake Inc. (NYSE:SNOW)

Trivest Advisors Ltd bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 266,000 shares of the company's stock, valued at approximately $41,073,000. Snowflake makes up approximately 1.9% of Trivest Advisors Ltd's investment portfolio, making the stock its 21st largest position. Trivest Advisors Ltd owned about 0.08% of Snowflake as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC boosted its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. State Street Corp boosted its position in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company's stock worth $788,755,000 after acquiring an additional 54,909 shares during the last quarter. Geode Capital Management LLC boosted its position in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock worth $475,894,000 after acquiring an additional 138,663 shares during the last quarter. Two Sigma Advisers LP boosted its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock worth $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Remove Ads

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 7,016 shares of Snowflake stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the sale, the director now owns 182,999 shares of the company's stock, valued at approximately $28,491,114.31. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 298,429 shares of company stock valued at $50,065,812 in the last ninety days. Insiders own 7.80% of the company's stock.

Snowflake Stock Up 0.5 %

Shares of NYSE SNOW traded up $0.75 during mid-day trading on Friday, reaching $157.94. The company had a trading volume of 3,604,059 shares, compared to its average volume of 6,340,684. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a 50 day simple moving average of $172.74 and a two-hundred day simple moving average of $149.89. The stock has a market cap of $52.14 billion, a P/E ratio of -46.59 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. Monness Crespi & Hardt boosted their target price on shares of Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Canaccord Genuity Group boosted their target price on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, Citigroup boosted their target price on shares of Snowflake from $225.00 to $230.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $205.08.

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.