Natixis Advisors LLC Has $2.02 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Key Points

• Natixis Advisors LLC increased its holding in Snowflake Inc. by 16.1% during the first quarter, resulting in ownership of 13,808 shares valued at approximately $2.018 million.
• Equity research analysts have raised price targets for Snowflake, with Cantor Fitzgerald setting a new target of $242.00 and UBS Group raising it to $265.00, indicating a positive outlook for the stock.
• Despite recent gains, insiders have sold a significant amount of stock, with CFO Michael Scarpelli selling 400,000 shares worth over $82 million, indicating mixed sentiment among company leadership.

Natixis Advisors LLC lifted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 16.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,808 shares of the company's stock after purchasing an additional 1,914 shares during the quarter. Natixis Advisors LLC's holdings in Snowflake were worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after buying an additional 2,200,406 shares during the last quarter. Voya Investment Management LLC increased its holdings in Snowflake by 157.0% in the fourth quarter. Voya Investment Management LLC now owns 925,817 shares of the company's stock worth $142,955,000 after buying an additional 565,561 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in Snowflake in the fourth quarter worth approximately $71,951,000. Assenagon Asset Management S.A. grew its holdings in Snowflake by 277.2% during the first quarter. Assenagon Asset Management S.A. now owns 551,894 shares of the company's stock valued at $80,665,000 after purchasing an additional 405,588 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Snowflake by 1,444.8% during the fourth quarter. Janus Henderson Group PLC now owns 389,756 shares of the company's stock valued at $60,215,000 after purchasing an additional 364,525 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SNOW. DA Davidson reiterated a "buy" rating and set a $250.00 price target on shares of Snowflake in a report on Wednesday, June 4th. HSBC downgraded Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Truist Financial increased their price target on Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Monness Crespi & Hardt increased their price target on Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird raised their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $226.73.

Insider Activity

In other news, Director Frank Slootman sold 424,852 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at approximately $36,303,960.45. The trade was a 71.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the transaction, the chief financial officer owned 292,610 shares of the company's stock, valued at $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,014,642 shares of company stock valued at $657,325,186 over the last 90 days. Corporate insiders own 6.80% of the company's stock.

Snowflake Trading Down 7.0%

SNOW stock traded down $14.46 during midday trading on Friday, reaching $191.94. The stock had a trading volume of 8,603,458 shares, compared to its average volume of 3,770,819. The business has a fifty day simple moving average of $213.98 and a two-hundred day simple moving average of $184.03. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market cap of $64.08 billion, a price-to-earnings ratio of -45.59 and a beta of 1.22. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $229.27.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company's revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. As a group, research analysts expect that Snowflake Inc. will post -2.36 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.