Cooper Capital Advisors LLC Sells 287 Shares of Snowflake Inc. $SNOW

Cooper Capital Advisors LLC cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,223 shares of the company’s stock after selling 287 shares during the quarter. Snowflake accounts for about 2.0% of Cooper Capital Advisors LLC’s holdings, making the stock its 14th largest position. Cooper Capital Advisors LLC’s holdings in Snowflake were worth $2,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. Vanguard Group Inc. raised its stake in shares of Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after buying an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Snowflake during the 2nd quarter valued at approximately $3,900,134,000. Jennison Associates LLC increased its holdings in Snowflake by 20.5% in the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Snowflake by 19.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after acquiring an additional 763,673 shares during the period. Finally, Geode Capital Management LLC raised its stake in Snowflake by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,424,120 shares of the company’s stock worth $986,057,000 after acquiring an additional 133,059 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 owned 527,336 shares in the company, valued at $123,132,956. This represents a 1.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 931,388 shares of company stock worth $216,578,628. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Up 0.2%

Shares of SNOW stock opened at $257.40 on Friday. The company’s fifty day simple moving average is $244.05 and its two-hundred day simple moving average is $218.43. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The stock has a market cap of $87.21 billion, a P/E ratio of -62.02 and a beta of 1.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. Analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNOW. Barclays upped their price target on shares of Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Needham & Company LLC lifted their target price on shares of Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Bank of America upgraded Snowflake from a “neutral” rating to a “buy” rating and increased their price target for the stock from $220.00 to $240.00 in a research note on Wednesday, August 20th. Citigroup reissued a “market outperform” rating on shares of Snowflake in a report on Tuesday, October 28th. Finally, Jefferies Financial Group boosted their price objective on Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.89.

Snowflake 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.