Snowflake Inc. $SNOW Shares Sold by Octahedron Capital Management L.P.

Octahedron Capital Management L.P. trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 81.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,310 shares of the company’s stock after selling 14,690 shares during the quarter. Snowflake makes up about 0.6% of Octahedron Capital Management L.P.’s investment portfolio, making the stock its 17th largest holding. Octahedron Capital Management L.P.’s holdings in Snowflake were worth $741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Co. of Toledo NA OH bought a new position in Snowflake in the 2nd quarter worth about $25,000. Avion Wealth boosted its stake in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares in the last quarter. Rossby Financial LCC increased its position in shares of Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares during the period. Whittier Trust Co. raised its stake in shares of Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after buying an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Snowflake by 417.2% in the second quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Up 0.7%

NYSE SNOW opened at $254.58 on Wednesday. The stock has a market cap of $86.25 billion, a price-to-earnings ratio of -61.35 and a beta of 1.23. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The firm’s 50 day moving average price is $245.17 and its two-hundred day moving average price is $220.49.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) 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 firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. Equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the sale, the executive vice president owned 522,450 shares in the company, valued at $145,100,038.50. This represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Tuesday, September 30th. The shares were 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. This trade represents a 4.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 931,388 shares of company stock valued at $216,578,628 over the last three months. 6.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on SNOW shares. Piper Sandler lifted their target price on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Monness Crespi & Hardt raised their price objective on shares of Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Macquarie lifted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Finally, Stifel Nicolaus raised their target price on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have given a Sell 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 $262.39.

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.