MADDEN SECURITIES Corp Grows Stake in Snowflake Inc. (NYSE:SNOW)

MADDEN SECURITIES Corp boosted its position in Snowflake Inc. (NYSE:SNOW) by 147.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,230 shares of the company’s stock after buying an additional 9,064 shares during the period. MADDEN SECURITIES Corp’s holdings in Snowflake were worth $2,057,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Accent Capital Management LLC purchased a new position in Snowflake during the fourth quarter worth $25,000. LRI Investments LLC purchased a new position in Snowflake during the first quarter worth $29,000. FinTrust Capital Advisors LLC increased its position in Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares in the last quarter. Riverview Trust Co purchased a new position in Snowflake during the first quarter worth $31,000. Finally, Hartford Financial Management Inc. purchased a new position in Snowflake during the first quarter worth $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler dropped their price target on Snowflake from $240.00 to $165.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Wedbush reaffirmed a “neutral” rating and issued a $210.00 price objective on shares of Snowflake in a research report on Wednesday, June 5th. Scotiabank lowered their price objective on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 23rd. Barclays lifted their price objective on Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a research report on Thursday, May 23rd. Finally, Sanford C. Bernstein lifted their price objective on Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $197.31.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Emily Ho sold 6,500 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the sale, the chief accounting officer now directly owns 36,076 shares of the company’s stock, valued at $5,712,995.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 535,678 shares of company stock worth $66,762,300. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $6.50 during trading on Thursday, hitting $121.60. The company’s stock had a trading volume of 4,524,190 shares, compared to its average volume of 6,440,010. Snowflake Inc. has a fifty-two week low of $107.93 and a fifty-two week high of $237.72. The stock’s 50-day moving average price is $130.93 and its two-hundred day moving average price is $160.70. The company has a market capitalization of $40.71 billion, a PE ratio of -43.43 and a beta of 0.85.

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