Natixis Has $2.48 Million Position in Snowflake Inc. (NYSE:SNOW)

Natixis cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 86.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,359 shares of the company’s stock after selling 96,386 shares during the quarter. Natixis’ holdings in Snowflake were worth $2,482,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Accent Capital Management LLC bought a new stake in Snowflake in the 4th quarter valued at about $25,000. Riverview Trust Co bought a new stake in Snowflake in the 1st quarter valued at about $31,000. Hartford Financial Management Inc. bought a new stake in Snowflake in the 1st quarter valued at about $32,000. Future Financial Wealth Managment LLC bought a new stake in Snowflake in the 1st quarter valued at about $32,000. Finally, FinTrust Capital Advisors LLC increased its position in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the completion of the sale, the executive vice president now directly owns 733,773 shares in the company, valued at $104,914,863.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $2,144,700.00. Following the completion of the sale, the executive vice president now directly owns 733,773 shares in the company, valued at $104,914,863.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the transaction, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 533,460 shares of company stock worth $66,963,450. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNOW. Wells Fargo & Company decreased their price objective on Snowflake from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Scotiabank decreased their price objective on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a report on Thursday, May 23rd. Royal Bank of Canada decreased their price objective on Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Wedbush reissued a “neutral” rating and set a $210.00 price objective on shares of Snowflake in a report on Wednesday, June 5th. Finally, Macquarie cut their target price on Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $197.31.

Snowflake Stock Performance

SNOW traded up $3.91 during trading on Thursday, reaching $129.53. The stock had a trading volume of 5,344,884 shares, compared to its average volume of 6,487,532. The stock has a market cap of $43.37 billion, a PE ratio of -46.26 and a beta of 0.85. Snowflake Inc. has a one year low of $122.60 and a one year high of $237.72. The business has a 50-day moving average of $138.32 and a 200-day moving average of $165.80.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The business had revenue of $828.71 million for the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Equities research analysts forecast that Snowflake Inc. will post -2.28 EPS for the current fiscal 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.