Triumph Capital Management Has $1.80 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Triumph Capital Management boosted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 59.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,304 shares of the company's stock after buying an additional 4,598 shares during the period. Triumph Capital Management's holdings in Snowflake were worth $1,798,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SNOW. Opal Wealth Advisors LLC acquired a new stake in Snowflake during the first quarter valued at approximately $26,000. CVA Family Office LLC raised its stake in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the last quarter. West Paces Advisors Inc. bought a new position in shares of Snowflake in the 4th quarter worth $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake in the fourth quarter valued at about $31,000. Finally, Capital A Wealth Management LLC bought a new position in Snowflake during the fourth quarter worth about $31,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the sale, the chief financial officer owned 292,610 shares of the company's stock, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 424,852 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total value of $93,191,286.20. Following the sale, the director owned 165,507 shares of the company's stock, valued at $36,303,960.45. The trade was a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,718,258 shares of company stock valued at $589,762,906 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup reiterated an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. JMP Securities boosted their price target on shares of Snowflake from $245.00 to $260.00 and gave the company a "market outperform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. upped their price objective on shares of Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Stifel Nicolaus lifted their target price on Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Macquarie raised their target price on shares of Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and a consensus price target of $226.73.

Snowflake Stock Performance

Shares of Snowflake stock traded up $2.28 on Thursday, hitting $214.84. The stock had a trading volume of 2,224,562 shares, compared to its average volume of 5,130,916. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market cap of $71.73 billion, a price-to-earnings ratio of -51.03 and a beta of 1.22. The business's 50 day moving average is $209.72 and its two-hundred day moving average is $180.04. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $226.60.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The firm's quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. Analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

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.