Cookson Peirce & Co. Inc. grew its position in Snowflake Inc. (NYSE:SNOW – Free Report) by 179.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,383 shares of the company’s stock after purchasing an additional 5,385 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Snowflake were worth $1,293,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Lyell Wealth Management LP boosted its position in Snowflake by 13.8% during the first quarter. Lyell Wealth Management LP now owns 24,469 shares of the company’s stock worth $3,775,000 after purchasing an additional 2,976 shares during the period. Kistler Tiffany Companies LLC boosted its position in shares of Snowflake by 55.2% in the first quarter. Kistler Tiffany Companies LLC now owns 2,957 shares of the company’s stock valued at $456,000 after acquiring an additional 1,052 shares during the period. LA Financiere DE L Echiquier lifted its stake in Snowflake by 14.8% in the 1st quarter. LA Financiere DE L Echiquier now owns 173,500 shares of the company’s stock worth $26,769,000 after purchasing an additional 22,400 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Snowflake by 18.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,576 shares of the company’s stock valued at $706,000 after purchasing an additional 729 shares during the period. Finally, Morse Asset Management Inc purchased a new position in shares of Snowflake during the 1st quarter valued at $523,000. Institutional investors own 63.55% of the company’s stock.
Snowflake Price Performance
NYSE SNOW traded up $1.75 during mid-day trading on Thursday, reaching $171.75. The stock had a trading volume of 1,894,449 shares, compared to its average volume of 5,883,548. Snowflake Inc. has a 1 year low of $119.27 and a 1 year high of $205.66. The company has a fifty day moving average price of $174.90 and a 200 day moving average price of $158.14. The stock has a market cap of $55.97 billion, a PE ratio of -63.67 and a beta of 0.75.
Snowflake (NYSE:SNOW – Get Free Report) last issued its quarterly earnings results on Wednesday, May 24th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.24). Snowflake had a negative return on equity of 14.81% and a negative net margin of 37.78%. The company had revenue of $623.60 million during the quarter, compared to analysts’ expectations of $607.57 million. As a group, equities research analysts expect that Snowflake Inc. will post -1.48 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on SNOW shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Snowflake from $170.00 to $185.00 in a research note on Monday, June 26th. UBS Group decreased their price objective on shares of Snowflake from $170.00 to $155.00 in a research report on Thursday, May 25th. Sanford C. Bernstein dropped their target price on shares of Snowflake from $157.00 to $148.00 in a research report on Friday, May 26th. Needham & Company LLC increased their price target on shares of Snowflake from $180.00 to $216.00 in a report on Wednesday, June 21st. Finally, Mizuho raised their price objective on shares of Snowflake from $175.00 to $190.00 in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.69.
Insider Buying and Selling at Snowflake
In related news, CEO Frank Slootman sold 20,834 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $188.40, for a total value of $3,925,125.60. Following the completion of the transaction, the chief executive officer now owns 185,683 shares of the company’s stock, valued at approximately $34,982,677.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Frank Slootman sold 20,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $188.40, for a total transaction of $3,925,125.60. Following the completion of the sale, the chief executive officer now directly owns 185,683 shares of the company’s stock, valued at approximately $34,982,677.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 200,000 shares of Snowflake stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $180.50, for a total value of $36,100,000.00. Following the sale, the chief financial officer now owns 142,546 shares of the company’s stock, valued at $25,729,553. The disclosure for this sale can be found here. Insiders sold 654,652 shares of company stock worth $115,819,558 in the last quarter. 8.30% of the stock is owned by corporate insiders.
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.