Rakuten Securities Inc. Makes New $790,000 Investment in Snowflake Inc. (NYSE:SNOW)

Rakuten Securities Inc. acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 3,968 shares of the company’s stock, valued at approximately $790,000.

Several other hedge funds also recently made changes to their positions in SNOW. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Snowflake during the third quarter worth about $458,000. Sequoia Financial Advisors LLC grew its holdings in shares of Snowflake by 209.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after buying an additional 3,152 shares during the last quarter. Glynn Capital Management LLC grew its holdings in shares of Snowflake by 3.1% during the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after buying an additional 5,629 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Snowflake by 55.9% during the fourth quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after buying an additional 105,937 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Snowflake by 53.2% during the fourth quarter. Pacer Advisors Inc. now owns 5,442 shares of the company’s stock worth $1,083,000 after buying an additional 1,890 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 1.1 %

Shares of NYSE:SNOW traded down $1.68 on Wednesday, hitting $150.30. The company had a trading volume of 4,705,665 shares, compared to its average volume of 5,239,566. Snowflake Inc. has a 52-week low of $135.26 and a 52-week high of $237.72. The business has a 50 day moving average of $182.44 and a 200 day moving average of $179.47. The company has a market cap of $50.23 billion, a PE ratio of -58.94 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. As a group, equities analysts predict that Snowflake Inc. will post -1.92 EPS for the current year.

Insider Buying and Selling

In related news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the transaction, the senior vice president now directly owns 726,567 shares in the company, valued at $167,110,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $230.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Emily Ho sold 1,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total value 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 approximately $4,457,133.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 179,055 shares of company stock worth $36,633,917. 8.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. HSBC reissued a “reduce” rating on shares of Snowflake in a report on Thursday, February 29th. JMP Securities raised their price objective on shares of Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research report on Thursday, February 29th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, Bank of America reduced their price objective on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

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.