Moors & Cabot Inc. Has $534,000 Holdings in Snowflake Inc. $SNOW

Moors & Cabot Inc. grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 13.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,388 shares of the company’s stock after purchasing an additional 288 shares during the quarter. Moors & Cabot Inc.’s holdings in Snowflake were worth $534,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SNOW. Brighton Jones LLC raised its stake in Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Snowflake by 10.0% during the first quarter. Concurrent Investment Advisors LLC now owns 2,376 shares of the company’s stock valued at $347,000 after acquiring an additional 216 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Snowflake by 12.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 294,981 shares of the company’s stock worth $43,114,000 after acquiring 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 worth $122,000 after acquiring 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 worth $321,000 after acquiring an additional 587 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SNOW shares. Scotiabank upped their target price on Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. UBS Group boosted their price target on Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. DA Davidson restated a “buy” rating and set a $250.00 price target on shares of Snowflake in a report on Monday, August 25th. Evercore ISI lifted their price objective on shares of Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Finally, Citigroup reiterated a “market outperform” rating on shares of Snowflake in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.95.

Insider Buying and Selling at Snowflake

In related news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the transaction, the director owned 165,507 shares of the company’s stock, valued at $38,144,398.29. This trade represents a 81.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 880,647 shares of company stock valued at $203,522,973 over the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $262.72 on Friday. 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 Inc. has a twelve month low of $119.66 and a twelve month high of $280.67. The stock’s 50 day moving average is $240.55 and its 200-day moving average is $214.54. The firm has a market capitalization of $89.01 billion, a price-to-earnings ratio of -63.31 and a beta of 1.23.

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

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.