Cooper Financial Group Takes Position in Snowflake Inc. $SNOW

Key Points

• Cooper Financial Group established a new position in Snowflake Inc. ($SNOW) by acquiring 4,231 shares valued at approximately $947,000 during the second quarter.
• Significant insider transactions included Director Frank Slootman selling 710,083 shares at an average price of $230.47, representing an 81.10% decrease in his ownership.
• Wall Street analysts have raised their target prices for Snowflake, with ratings upgrading to a consensus of "Moderate Buy"' and a price target of $255.53.

Cooper Financial Group bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 4,231 shares of the company's stock, valued at approximately $947,000.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after buying an additional 316,573 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snowflake during the second quarter worth about $3,900,134,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock worth $691,693,000 after acquiring an additional 763,673 shares during the last quarter. Nuveen LLC bought a new position in Snowflake in the 1st quarter valued at about $555,847,000. Finally, Goldman Sachs Group Inc. lifted its position in Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after acquiring an additional 650,775 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $221.47, for a total transaction of $11,148,356.86. Following the completion of the transaction, the director owned 36,956 shares of the company's stock, valued at $8,184,645.32. The trade was a 57.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,579,829 shares of company stock worth $358,117,551. 6.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Snowflake from $225.00 to $255.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Guggenheim reissued a "neutral" rating on shares of Snowflake in a research report on Thursday, August 28th. Mizuho lifted their price objective on shares of Snowflake from $235.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Needham & Company LLC upped their target price on shares of Snowflake from $230.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Finally, Monness Crespi & Hardt raised their price target on shares of Snowflake from $245.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.53.

Snowflake Trading Up 2.2%

Shares of SNOW stock opened at $230.45 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market cap of $78.08 billion, a P/E ratio of -55.53 and a beta of 1.21. The company has a 50 day moving average of $215.11 and a 200-day moving average of $194.48. Snowflake Inc. has a 12-month low of $108.71 and a 12-month high of $249.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company earned $0.18 earnings per share. Snowflake's revenue was up 31.8% compared to the same quarter last year. Sell-side analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

About Snowflake

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.

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