Caxton Associates LLP Takes $477,000 Position in Snowflake Inc. $SNOW

Caxton Associates LLP purchased a new position in Snowflake Inc. (NYSE:SNOW) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,160 shares of the company’s stock, valued at approximately $477,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Snowflake in the fourth quarter worth about $28,000. Greenline Wealth Management LLC purchased a new position in Snowflake in the 4th quarter worth about $29,000. Physician Wealth Advisors Inc. raised its stake in shares of Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after acquiring an additional 51 shares in the last quarter. MV Capital Management Inc. purchased a new stake in shares of Snowflake in the 4th quarter worth $32,000. Finally, HHM Wealth Advisors LLC lifted its stake in Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SNOW. Evercore set a $200.00 target price on Snowflake in a research report on Tuesday, April 14th. Citigroup upped their price target on shares of Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, May 29th. TD Cowen restated a “buy” rating and issued a $300.00 price objective on shares of Snowflake in a research note on Wednesday, June 3rd. Scotiabank boosted their target price on shares of Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a research report on Monday, June 8th. Finally, Monness Crespi & Hardt raised their price objective on shares of Snowflake from $282.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Thirty-four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.27.

Insider Buying and Selling at Snowflake

In related news, CAO Emily Ho sold 1,860 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $232.25, for a total transaction of $431,985.00. Following the transaction, the chief accounting officer owned 41,283 shares in the company, valued at $9,587,976.75. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 99,900 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $251.73, for a total transaction of $25,147,827.00. Following the transaction, the director owned 28,535 shares in the company, valued at approximately $7,183,115.55. This trade represents a 77.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,802,015 shares of company stock worth $421,739,629. 4.80% of the stock is owned by insiders.

Snowflake Stock Up 1.8%

Shares of SNOW opened at $272.89 on Tuesday. The company’s 50-day moving average price is $241.28 and its 200 day moving average price is $195.44. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The firm has a market cap of $94.58 billion, a P/E ratio of -77.52 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. On average, sell-side analysts forecast that Snowflake Inc. will post -1.84 earnings per share for the current year.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.