18/06/2025 09:27

Snowflake (SNOW US) $US209.12

Snowflake is an exciting way to play AI, and we’ve held the stock in the past, unfortunately taking a loss when we sold out around a year ago. Our concern at the time was that a high level of investment in new capability and products would likely have an extended period before they would pay off, pressuring margins.

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27/11/2024 09:47

Snowflake (SNOW US) $US171.28

Last week, SNOW reported a significantly stronger Q3 result in the areas that mattered. Top-line growth is very important, but it was not our concern when selling; margins and, therefore, earnings were. To that end, while quarterly revenue of US$942m was light, margins were better, and that drove a decent beat in earnings.

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12/09/2024 11:44

International Equities Portfolio – Amendments

We are making several changes to the International Equities Portfolio.

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22/08/2024 16:59

Snowflake (SNOW US) $US135.06

Reported Q2 results after market in the US overnight, and while the stocks was up 2.3% ahead of the results, they traded down after hours by ~5%.

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12/06/2024 09:21

Snowflake (SNOW US) $US128.48

We’ve written very positively about US-listed data business Snowflake (SNOW US) on many occasions (a history of this can be viewed on the site here), but more recently, the share price has come under pressure, and we’re now sitting with a 14% loss on our 5% holding, having been up significantly at various times since originally buying in 2022.  It seems some investors have run the three-strikes policy, and simply cut the stock, pushing shares down ~50% from this year’s high.  

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23/05/2024 09:51

Snowflake Inc (SNOW US) $US163.34

While Nvidia took all the headlines overnight, fellow AI operative Snowflake also reported results that were ahead of expectations for the quarter while guidance was also solid. This is the first full quarter that Sridhar Ramaswamy, a former Google executive and co-founder of search startup Neeva, has been Snowflake’s CEO, and we were looking for a re-acceleration of growth after a period of turbulence that had weighed on the share price - the stock is down 18% this year.

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21/03/2024 17:05

International Equities Portfolio – Amendments

We are adding to 2 positions in the International equities Portfolio

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01/03/2024 09:32

Snowflake (SNOW US) $US188.28

A tough session overnight for data business Snowflake (SNOW US), held in our International Equities Portfolio down 18% after announcing a mildly weaker outlook and the surprise departure of their CEO Frank Slootman - who’s incredibly well regarded. We think this surprise accounts for the majority of the decline and when combined with a slightly weaker-than-expected outlook, overlayed with the ~70% rally the stock has experienced since November, some selling is understandable.

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24/01/2024 09:18

How is the venture capitalist community thinking about technology?

We read an interesting piece of research published by UBS this week following their 2-day VC conference where a bunch of well-regarded firms discuss emerging enterprise technology trends, the companies that these VC firms have invested in and the impacts these trends may have on publicly traded software stocks.

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01/12/2023 09:22

Snowflake Inc (SNOW US) $US187.68

The US-based cloud data company reported 3Q earnings after the market on Wednesday, which was important on several fronts. The company beat expectations and rallied strongly as a consequence – Analysts at Citi described it as the best performance in six quarters!

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