Moors & Cabot Inc. Buys 288 Shares of Snowflake Inc. $SNOW

Moors & Cabot Inc. raised its stake in Snowflake Inc. (NYSE:SNOW) by 13.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,388 shares of the company’s stock after acquiring an additional 288 shares during the period. Moors & Cabot Inc.’s holdings in Snowflake were worth $534,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SNOW. Brighton Jones LLC raised its stake in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Snowflake by 10.0% during the first quarter. Concurrent Investment Advisors LLC now owns 2,376 shares of the company’s stock worth $347,000 after buying an additional 216 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Snowflake by 12.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 294,981 shares of the company’s stock valued at $43,114,000 after buying an additional 31,908 shares during the period. TD Private Client Wealth LLC raised its position in shares of Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after buying an additional 68 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Snowflake by 36.5% in the 1st quarter. Crossmark Global Holdings Inc. now owns 2,196 shares of the company’s stock valued at $321,000 after buying an additional 587 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other news, 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 transaction, the senior vice president owned 241,854 shares in the company, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the sale, the executive vice president directly owned 527,336 shares in the company, valued at approximately $123,132,956. This represents a 1.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 880,647 shares of company stock worth $203,522,973 over the last ninety days. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SNOW shares. JPMorgan Chase & Co. increased their price target on shares of Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Scotiabank raised their target price on Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Wells Fargo & Company initiated coverage on Snowflake in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $275.00 price target on the stock. The Goldman Sachs Group upped their price objective on Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Sanford C. Bernstein raised their price objective on Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Two 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 issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.95.

Snowflake Stock Performance

Shares of SNOW stock opened at $262.72 on Friday. The firm has a market capitalization of $89.01 billion, a price-to-earnings ratio of -63.31 and a beta of 1.23. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $240.55 and its 200-day moving average price is $214.54. Snowflake Inc. has a 12 month low of $119.66 and a 12 month high of $280.67.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.18 EPS. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. Equities research 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.