Kornitzer Capital Management Inc. KS Has $13.25 Million Stock Holdings in Snowflake Inc. $SNOW

Kornitzer Capital Management Inc. KS lifted its position in Snowflake Inc. (NYSE:SNOW) by 13.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,725 shares of the company’s stock after buying an additional 6,825 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Snowflake were worth $13,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Trust Co. of Toledo NA OH acquired a new position in Snowflake during the 2nd quarter worth $25,000. Avion Wealth grew its position in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Snowflake in the third quarter worth about $25,000. Tripletail Wealth Management LLC bought a new position in shares of Snowflake in the third quarter worth about $28,000. Finally, Rossby Financial LCC boosted its stake in Snowflake by 4,233.3% during 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 period. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Up 0.7%

Shares of SNOW opened at $211.24 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The stock has a market cap of $72.29 billion, a PE ratio of -52.29 and a beta of 1.14. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The stock has a 50 day simple moving average of $226.66 and a 200-day simple moving average of $228.32.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results 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 firm had revenue of $1.21 billion for 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 business’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on SNOW shares. The Goldman Sachs Group set a $286.00 target price on Snowflake in a report on Monday, January 12th. Evercore ISI increased their price target on shares of Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. BTIG Research restated a “buy” rating and set a $312.00 price objective on shares of Snowflake in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, January 21st. Finally, Wedbush reissued an “outperform” rating and set a $270.00 target price on shares of Snowflake in a research report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $275.58.

Insider Activity

In other news, Director Frank Slootman sold 200,000 shares of Snowflake stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $221.83, for a total value of $44,366,000.00. Following the completion of the transaction, the director owned 50,329 shares in the company, valued at approximately $11,164,482.07. The trade was a 79.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $249.53, for a total value of $2,495,300.00. Following the sale, the executive vice president owned 512,450 shares in the company, valued at approximately $127,871,648.50. This trade represents a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 618,681 shares of company stock valued at $137,427,145 in the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.