Mather Group LLC. Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Mather Group LLC. purchased a new position in Snowflake Inc. (NYSE:SNOW) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 280 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Accent Capital Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at about $25,000. FinTrust Capital Advisors LLC lifted its stake in shares of Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. M&R Capital Management Inc. lifted its stake in shares of Snowflake by 100.0% in the 4th 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 in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Snowflake by 320.0% in the 4th quarter. Quarry LP now owns 210 shares of the company’s stock valued at $42,000 after purchasing an additional 160 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the transaction, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Benoit Dageville sold 1,295 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.19, for a total transaction of $162,121.05. Following the completion of the transaction, the insider now owns 58,791 shares of the company’s stock, valued at $7,360,045.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the transaction, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,147 shares of company stock worth $6,686,742. 7.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on SNOW. Robert W. Baird reduced their price objective on Snowflake from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Redburn Atlantic reissued a “sell” rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Mizuho reduced their price target on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, Scotiabank reduced their price target on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.64.

Snowflake Trading Down 2.3 %

Shares of SNOW stock opened at $124.82 on Tuesday. Snowflake Inc. has a 1 year low of $124.40 and a 1 year high of $237.72. The stock has a fifty day moving average of $147.15 and a two-hundred day moving average of $174.84.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The business had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. As a group, research analysts predict that Snowflake Inc. will post -2.27 earnings per share for the current year.

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.