Snowflake Inc. (NYSE:SNOW) is Cota Capital Management LLC’s 6th Largest Position

Cota Capital Management LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 88.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,386 shares of the company’s stock after acquiring an additional 11,419 shares during the period. Snowflake accounts for about 11.2% of Cota Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Cota Capital Management LLC’s holdings in Snowflake were worth $2,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC raised its holdings in Snowflake by 399.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 8,088 shares of the company’s stock worth $1,307,000 after buying an additional 6,469 shares during the last quarter. Tidal Investments LLC grew its position in Snowflake by 38.4% in the first quarter. Tidal Investments LLC now owns 23,065 shares of the company’s stock worth $3,727,000 after acquiring an additional 6,404 shares in the last quarter. Comerica Bank increased its position in shares of Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares during the last quarter. EMC Capital Management purchased a new stake in Snowflake during the 1st quarter valued at $63,000. Finally, Sanibel Captiva Trust Company Inc. bought a new stake in Snowflake in the first quarter worth $2,004,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In related news, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at $83,511,651.08. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,661 shares of company stock worth $32,004,752. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

Snowflake stock opened at $173.62 on Thursday. The business’s 50-day simple moving average is $123.68 and its two-hundred day simple moving average is $128.32. The company has a market cap of $58.20 billion, a PE ratio of -51.22 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several recent analyst reports. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and increased their target price for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. JMP Securities reduced their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. Robert W. Baird dropped their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Citigroup reduced their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.09.

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.