Natixis Advisors LLC Acquires New Holdings in Snowflake Inc. (NYSE:SNOW)

Natixis Advisors LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,894 shares of the company’s stock, valued at approximately $1,837,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Snowflake by 126.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,372 shares of the company’s stock valued at $2,570,000 after purchasing an additional 12,492 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of Snowflake in the third quarter valued at about $293,000. Massachusetts Financial Services Co. MA acquired a new stake in Snowflake during the third quarter worth about $11,252,000. Charles Schwab Investment Management Inc. increased its stake in Snowflake by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after acquiring an additional 36,704 shares during the period. Finally, Great Valley Advisor Group Inc. raised its holdings in Snowflake by 27.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 15,005 shares of the company’s stock valued at $1,724,000 after acquiring an additional 3,206 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $163.36 on Tuesday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $53.93 billion, a price-to-earnings ratio of -48.19 and a beta of 1.07. The firm has a fifty day moving average of $172.76 and a two-hundred day moving average of $150.25.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,968 shares of company stock worth $50,900,550. 7.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNOW. Rosenblatt Securities lifted their price objective on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada boosted their price target on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Thursday, February 20th. Needham & Company LLC upped their target price on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald raised their price target on shares of Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.08.

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.