Caxton Associates LLP Makes New Investment in Snowflake Inc. $SNOW

Caxton Associates LLP acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 41,495 shares of the company’s stock, valued at approximately $9,285,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Trust Co. of Toledo NA OH acquired a new stake in Snowflake in the second quarter valued at approximately $25,000. Avion Wealth grew its holdings in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Rossby Financial LCC increased its position in shares of Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several recent analyst reports. DA Davidson reissued a “buy” rating and issued a $300.00 target price on shares of Snowflake in a report on Monday, December 1st. KeyCorp upped their price objective on Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. BTIG Research reissued a “buy” rating and set a $312.00 target price on shares of Snowflake in a research report on Thursday, December 4th. Mizuho upped their price target on Snowflake from $260.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $237.00 price target on shares of Snowflake in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $274.78.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $230.65, for a total transaction of $92,951.95. Following the completion of the sale, the director owned 24,524 shares in the company, valued at $5,656,460.60. This represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 548 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $223.31, for a total transaction of $122,373.88. Following the transaction, the executive vice president directly owned 510,435 shares in the company, valued at $113,985,239.85. The trade was a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 221,360 shares of company stock worth $53,391,315 in the last 90 days. 6.80% of the stock is owned by insiders.

Snowflake Trading Down 1.2%

NYSE:SNOW opened at $217.95 on Friday. The company has a market capitalization of $73.84 billion, a PE ratio of -53.95 and a beta of 1.09. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The stock’s 50 day moving average price is $250.24 and its 200 day moving average price is $227.34. The company has a quick ratio of 1.48, a current ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. On average, research analysts anticipate that Snowflake Inc. will post -2.36 EPS 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.