Janney Capital Management LLC Purchases 16,647 Shares of Snowflake Inc. (NYSE:SNOW)

Janney Capital Management LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 28.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,705 shares of the company’s stock after acquiring an additional 16,647 shares during the period. Janney Capital Management LLC’s holdings in Snowflake were worth $12,072,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Accent Capital Management LLC acquired a new stake in Snowflake during the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC lifted its stake in shares of Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Snowflake during the 1st quarter worth about $31,000. M&R Capital Management Inc. grew its stake in Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after buying an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. bought a new position in Snowflake in the 1st quarter valued at about $32,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the sale, the executive vice president now owns 494,942 shares of the company’s stock, valued at $60,922,410.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the transaction, the executive vice president now owns 494,942 shares in the company, valued at approximately $60,922,410.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 1,295 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.19, for a total transaction of $162,121.05. Following the sale, the insider now owns 58,791 shares of the company’s stock, valued at $7,360,045.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 519,112 shares of company stock valued at $64,932,073. 7.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

NYSE SNOW traded up $0.16 during trading hours on Friday, reaching $143.02. The company’s stock had a trading volume of 6,164,583 shares, compared to its average volume of 7,293,981. The firm has a fifty day simple moving average of $144.72 and a 200-day simple moving average of $171.46. Snowflake Inc. has a 52 week low of $122.60 and a 52 week high of $237.72. The stock has a market cap of $47.88 billion, a P/E ratio of -51.08 and a beta of 0.85.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The business had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. On average, research analysts expect that Snowflake Inc. will post -2.28 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNOW. Piper Sandler restated an “overweight” rating and set a $240.00 price objective on shares of Snowflake in a report on Wednesday, June 5th. Scotiabank decreased their price objective on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 23rd. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Sanford C. Bernstein upped their price target on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Finally, Barclays lifted their price objective on shares of Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.46.

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.