In my experience, cold is the absolute worst and last resort. It's almost always better to get in via someone who knows you, because, for example, if a coder at the company everyone regards as highly competent advocates for you and says you're also highly competent, that instantly cuts through tons of nonsense.

I would only do cold after I had asked each and every former colleague or anyone who even knows me, if they could help me get a foot in the door.