J.W. Cole Advisors Inc. Acquires New Stake in Snowflake Inc. (NYSE:SNOW)

J.W. Cole Advisors Inc. bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,014 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNOW. LRI Investments LLC boosted its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in Snowflake during the 2nd quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in Snowflake during the 3rd quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake during the second quarter worth $39,000. Finally, Waldron Private Wealth LLC acquired a new stake in shares of Snowflake during the third quarter worth $40,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of SNOW opened at $115.46 on Friday. The firm has a market cap of $38.70 billion, a price-to-earnings ratio of -37.73 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm has a 50 day moving average price of $114.70 and a 200-day moving average price of $130.65.

Snowflake (NYSE:SNOW) last released its 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. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the prior year, the firm posted ($0.52) earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. As a group, equities research analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,538 shares of company stock worth $7,049,994. Insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SNOW shares. Scotiabank cut their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Jefferies Financial Group decreased their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Evercore ISI decreased their target price on Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Canaccord Genuity Group decreased their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $174.74.

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.