Cohen Capital Management Inc. Acquires Shares of 2,550 Snowflake Inc. (NYSE:SNOW)

Cohen Capital Management Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,550 shares of the company’s stock, valued at approximately $412,000.

A number of other hedge funds have also bought and sold shares of SNOW. Accent Capital Management LLC bought a new position in shares of Snowflake in the fourth quarter worth about $25,000. Riverview Trust Co bought a new position in shares of Snowflake in the first quarter worth about $31,000. Hartford Financial Management Inc. bought a new position in shares of Snowflake in the first quarter worth about $32,000. Future Financial Wealth Managment LLC bought a new position in shares of Snowflake in the first quarter worth about $32,000. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNOW. Stifel Nicolaus lowered their price objective on shares of Snowflake from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Thursday, May 2nd. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $240.00 price target on shares of Snowflake in a research report on Wednesday, June 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $199.46.

Snowflake Trading Up 0.5 %

SNOW stock traded up $0.66 during midday trading on Thursday, reaching $138.16. The stock had a trading volume of 5,989,718 shares, compared to its average volume of 6,606,459. The company’s fifty day simple moving average is $143.28 and its 200 day simple moving average is $169.85. The company has a market cap of $46.26 billion, a price-to-earnings ratio of -49.34 and a beta of 0.85. Snowflake Inc. has a 52-week low of $122.60 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $828.71 million for the quarter, compared to analysts’ expectations of $786.95 million. Sell-side analysts predict that Snowflake Inc. will post -2.28 EPS for the current year.

Insider Transactions at Snowflake

In related news, Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the sale, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at $607,236.06. The disclosure for this sale can be found here. Insiders have sold a total of 534,960 shares of company stock worth $67,198,020 in the last quarter. Company insiders own 7.80% of the company’s stock.

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.