Janney Montgomery Scott LLC Has $5.46 Million Stake in Snowflake Inc. (NYSE:SNOW)

Posted by Defense World Staff on Jul 23rd, 2023

Janney Montgomery Scott LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 11.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,386 shares of the company’s stock after purchasing an additional 3,724 shares during the period. Janney Montgomery Scott LLC’s holdings in Snowflake were worth $5,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. BerganKDV Wealth Management LLC increased its stake in shares of Snowflake by 153.7% in the 1st quarter. BerganKDV Wealth Management LLC now owns 170 shares of the company’s stock valued at $26,000 after buying an additional 103 shares during the period. Accurate Wealth Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at $27,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Snowflake by 333.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the period. Paragon Wealth Strategies LLC increased its stake in shares of Snowflake by 2,500.0% in the 4th quarter. Paragon Wealth Strategies LLC now owns 208 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. Finally, M&R Capital Management Inc. increased its stake in shares of Snowflake by 100.0% in the 1st quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $31,000 after buying an additional 100 shares during the period. 63.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, Director John Dennis Mcmahon sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $144.07, for a total transaction of $1,440,700.00. Following the transaction, the director now owns 153,902 shares of the company’s stock, valued at $22,172,661.14. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director John Dennis Mcmahon sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $144.07, for a total transaction of $1,440,700.00. Following the completion of the sale, the director now owns 153,902 shares in the company, valued at $22,172,661.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Christian Kleinerman sold 724 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $174.31, for a total value of $126,200.44. Following the sale, the senior vice president now owns 744,204 shares of the company’s stock, valued at approximately $129,722,199.24. The disclosure for this sale can be found here. Insiders have sold a total of 654,652 shares of company stock valued at $115,819,558 over the last 90 days. 8.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SNOW shares. Scotiabank raised Snowflake from a “sector perform” rating to a “sector outperform” rating and set a $213.00 target price for the company in a research note on Thursday, July 13th. William Blair assumed coverage on Snowflake in a research report on Wednesday, June 28th. They issued an “outperform” rating on the stock. Evercore ISI reduced their price target on Snowflake from $196.00 to $190.00 in a research report on Friday, May 5th. Jefferies Financial Group raised their price target on Snowflake from $180.00 to $205.00 in a research report on Friday, June 30th. Finally, UBS Group reduced their price target on Snowflake from $170.00 to $155.00 in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.69.

Snowflake Price Performance

Shares of NYSE SNOW opened at $175.90 on Friday. The business’s 50 day moving average price is $174.77 and its two-hundred day moving average price is $157.11. Snowflake Inc. has a twelve month low of $119.27 and a twelve month high of $205.66.

Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings results on Wednesday, May 24th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.24). The business had revenue of $623.60 million for the quarter, compared to analyst estimates of $607.57 million. Snowflake had a negative return on equity of 14.81% and a negative net margin of 37.78%. As a group, equities research analysts expect that Snowflake Inc. will post -1.48 EPS for the current fiscal year.

About Snowflake

(Free Report)

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.