Cookson Peirce & Co. Inc. Acquires 42,705 Shares of Snowflake Inc. $SNOW

Key Points

• Cookson Peirce & Co. Inc. dramatically increased its Snowflake stake in the fourth quarter, buying 42,705 additional shares and lifting its holdings to 43,913 shares valued at about $9.63 million.
• Snowflake continues to draw bullish analyst attention, with firms like Truist, Jefferies, Morgan Stanley, and Stifel all raising targets or maintaining positive ratings amid optimism around the company’s AI monetization and product upgrades.
• The stock has also seen notable insider selling, including large sales by Director Mark Garrett and EVP Christian Kleinerman, even as Snowflake posted strong quarterly results with revenue up 33.5% year over year and EPS beating estimates.

Cookson Peirce & Co. Inc. raised its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 3,535.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,913 shares of the company's stock after acquiring an additional 42,705 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in Snowflake were worth $9,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Total Clarity Wealth Management Inc. grew its position in shares of Snowflake by 2.7% during the 3rd quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company's stock valued at $340,000 after purchasing an additional 40 shares in the last quarter. Diligent Investors LLC grew its position in shares of Snowflake by 0.9% during the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company's stock valued at $1,036,000 after purchasing an additional 40 shares in the last quarter. Wolff Wiese Magana LLC grew its position in shares of Snowflake by 10.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company's stock valued at $120,000 after purchasing an additional 50 shares in the last quarter. HHM Wealth Advisors LLC grew its position in shares of Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. Finally, United Asset Strategies Inc. grew its position in shares of Snowflake by 1.4% during the 4th quarter. United Asset Strategies Inc. now owns 3,544 shares of the company's stock valued at $777,000 after purchasing an additional 50 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Truist raised its price target on Snowflake to $300 and kept a buy rating, signaling continued analyst confidence in upside for SNOW.
• Positive Sentiment: Jefferies said Snowflake’s AI monetization opportunity is gaining traction and reiterated its buy rating with a $300 target.
• Positive Sentiment: Snowflake’s Summit 26 introduced new AI product upgrades and partnerships, reinforcing the company’s growth narrative in enterprise AI.
• Neutral Sentiment: Coverage comparing Snowflake with peers like MongoDB adds visibility, but it is more relevant to long-term positioning than near-term earnings impact.
• Negative Sentiment: Analysts and market commentary continue to flag margin pressure, competition, and a premium valuation as risks that could limit further upside.
• Negative Sentiment: Recent insider selling by Frank Slootman and Christian Kleinerman may create some overhang on sentiment despite being part of pre-planned trading activity.

Snowflake Stock Performance

NYSE SNOW opened at $238.12 on Friday. The company has a 50-day simple moving average of $165.25 and a two-hundred day simple moving average of $190.55. The company has a quick ratio of 1.30, a current 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 $82.32 billion, a price-to-earnings ratio of -67.65 and a beta of 1.35.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The company's revenue was up 33.5% on a year-over-year basis. On average, equities analysts forecast that Snowflake Inc. will post -1.87 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the sale, the director directly owned 8,801 shares in the company, valued at $2,200,250. This represents a 91.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.00, for a total transaction of $2,720,000.00. Following the sale, the executive vice president owned 418,494 shares of the company's stock, valued at approximately $113,830,368. The trade was a 2.33% 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 1,538,672 shares of company stock valued at $346,816,863. Corporate insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNOW shares. Barclays boosted their price target on shares of Snowflake from $272.00 to $285.00 and gave the company an "equal weight" rating in a research report on Thursday. Morgan Stanley increased their target price on Snowflake from $245.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Stifel Nicolaus lifted their price target on Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Citizens Jmp reaffirmed a "market outperform" rating and set a $325.00 price target on shares of Snowflake in a research note on Tuesday, May 19th. Finally, Wedbush lifted their price target on Snowflake from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $290.87.

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.

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