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

Machina Capital S.A.S. acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 4,600 shares of the company’s stock, valued at approximately $915,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Provence Wealth Management Group bought a new position in shares of Snowflake during the 3rd quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Snowflake by 54.1% during the third 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. grew its holdings in Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares during the period. M&R Capital Management Inc. raised its holdings in shares of Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after purchasing an additional 100 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 1,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now owns 354,954 shares in the company, valued at $55,571,598.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 1,500 shares of the firm’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 value of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,458 shares of company stock worth $31,585,640. 8.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Evercore ISI dropped their price target on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Needham & Company LLC lowered their target price on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Citigroup lowered 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. Wedbush lifted their target price on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Bank of America lowered their price target on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $202.77.

Snowflake Stock Performance

Shares of Snowflake stock traded down $4.59 during trading on Tuesday, hitting $159.09. The company’s stock had a trading volume of 4,507,870 shares, compared to its average volume of 6,304,583. Snowflake Inc. has a 52 week low of $138.40 and a 52 week high of $237.72. The company has a market capitalization of $53.17 billion, a PE ratio of -62.36 and a beta of 0.90. The company has a fifty day simple moving average of $161.85 and a two-hundred day simple moving average of $179.19.

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

Snowflake Company 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.