Cohen Capital Management Inc. Increases Holdings in Snowflake Inc. (NYSE:SNOW)

Cohen Capital Management Inc. boosted its position in Snowflake Inc. (NYSE:SNOW) by 4.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,724 shares of the company’s stock after buying an additional 730 shares during the period. Cohen Capital Management Inc.’s holdings in Snowflake were worth $2,151,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SNOW. LRI Investments LLC increased its position in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new stake in Snowflake in the 2nd quarter valued at about $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the 3rd quarter valued at about $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake during the 3rd quarter worth about $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the 2nd quarter worth about $39,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Down 0.3 %

Shares of NYSE SNOW opened at $115.12 on Monday. The stock has a market cap of $38.59 billion, a P/E ratio of -37.74 and a beta of 0.83. The firm’s 50-day simple moving average is $114.70 and its 200 day simple moving average is $130.39. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) EPS. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total value of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the transaction, the executive vice president now owns 721,755 shares of the company’s stock, valued at $86,610,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,049,994 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNOW shares. TD Cowen dropped their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Scotiabank reduced their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. DA Davidson restated a “buy” rating and set a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd. JMP Securities reduced their price objective on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company cut their price target on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

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.