AtonRa Partners Reduces Position in Snowflake Inc. (NYSE:SNOW)

AtonRa Partners trimmed its position in Snowflake Inc. (NYSE:SNOW) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,160 shares of the company’s stock after selling 371 shares during the quarter. AtonRa Partners’ holdings in Snowflake were worth $430,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Ulland Investment Advisors LLC increased its stake in Snowflake by 270.0% in the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after purchasing an additional 135 shares during the last quarter. Provence Wealth Management Group purchased a new position in shares of Snowflake in the 3rd quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. raised its stake in Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 72 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its stake in Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its position in Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Trading Down 0.4 %

Shares of SNOW stock traded down $0.66 during mid-day trading on Monday, reaching $157.47. The stock had a trading volume of 5,166,208 shares, compared to its average volume of 6,513,337. The company has a market cap of $52.63 billion, a P/E ratio of -62.04 and a beta of 0.91. 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 $169.91 and a 200 day simple moving average of $179.16.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million during 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.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 target price (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Citigroup reduced their price objective on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Oppenheimer lowered their target price on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Barclays reduced their price target on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. Finally, Royal Bank of Canada dropped their price objective on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Insider Buying and Selling at Snowflake

In other news, CRO Christopher William Degnan sold 12,533 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total value of $2,507,101.32. Following the sale, the executive now directly owns 98,172 shares in the company, valued at $19,638,326.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now directly owns 726,567 shares in the company, valued at $167,110,410. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Christopher William Degnan sold 12,533 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the transaction, the executive now directly owns 98,172 shares in the company, valued at approximately $19,638,326.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,209 shares of company stock worth $34,291,592. 8.30% of the stock is owned by insiders.

Snowflake Profile

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.