Rakuten Securities Inc. Invests $790,000 in Snowflake Inc. (NYSE:SNOW)

Rakuten Securities Inc. purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,968 shares of the company’s stock, valued at approximately $790,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SNOW. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Snowflake by 822.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after purchasing an additional 148 shares in the last quarter. Ulland Investment Advisors LLC lifted its holdings in Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after purchasing an additional 135 shares in the last quarter. Provence Wealth Management Group purchased a new stake in Snowflake during the 3rd quarter worth about $30,000. Finally, M&R Capital Management Inc. lifted its holdings in Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Evercore ISI dropped their price objective on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Truist Financial lowered their price target on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Citigroup lowered their price target on Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, March 4th. JMP Securities raised their price target on Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a report on Thursday, February 29th. Finally, Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and raised their price target for the company from $182.00 to $205.00 in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Price Performance

Shares of SNOW traded down $1.68 during trading hours on Wednesday, hitting $150.30. The stock had a trading volume of 4,705,665 shares, compared to its average volume of 5,239,566. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72. The firm has a market capitalization of $50.23 billion, a PE ratio of -58.94 and a beta of 0.91. The stock has a fifty day moving average price of $182.44 and a 200 day moving average price of $179.47.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS 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 company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. As a group, analysts anticipate that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CRO Christopher William Degnan sold 2,346 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the transaction, the executive now owns 102,007 shares of the company’s stock, valued at $20,735,982.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 179,055 shares of company stock valued at $36,633,917. Company insiders own 8.30% of the company’s stock.

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.