Machina Capital S.A.S. Makes New $915,000 Investment in Snowflake Inc. (NYSE:SNOW)

Machina Capital S.A.S. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,600 shares of the company’s stock, valued at approximately $915,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Snowflake by 6.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock valued at $8,152,000 after acquiring an additional 3,124 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Snowflake by 28.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 89,735 shares of the company’s stock worth $13,709,000 after purchasing an additional 19,745 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of Snowflake by 139.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,818 shares of the company’s stock valued at $736,000 after buying an additional 2,809 shares during the last quarter. Stratos Wealth Advisors LLC purchased a new stake in shares of Snowflake in the third quarter worth about $398,000. Finally, Bank of New York Mellon Corp grew its holdings in Snowflake by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 1,668,797 shares of the company’s stock worth $254,942,000 after acquiring an additional 79,825 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, CEO Frank Slootman sold 86,078 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the sale, the chief executive officer now owns 180,143 shares in the company, valued at $40,555,593.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Frank Slootman sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total value of $19,378,740.14. Following the sale, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The disclosure for this sale can be found here. In the last three months, insiders sold 158,458 shares of company stock worth $31,585,640. Insiders own 8.30% of the company’s stock.

Snowflake Trading Down 2.8 %

Shares of SNOW stock traded down $4.59 during mid-day trading on Tuesday, reaching $159.09. The stock had a trading volume of 4,507,870 shares, compared to its average volume of 6,304,583. Snowflake Inc. has a 12-month low of $138.40 and a 12-month high of $237.72. The business has a 50-day simple moving average of $161.85 and a 200 day simple moving average of $179.19. The company has a market cap of $53.17 billion, a P/E ratio of -62.36 and a beta of 0.90.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Research analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on SNOW shares. UBS Group upped their price objective on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Mizuho reiterated a “buy” rating and set a $205.00 price objective (down from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Evercore ISI dropped their price target on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Finally, StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $202.77.

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.