Snowflake (NYSE:SNOW) Downgraded by StockNews.com

StockNews.com downgraded shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company boosted their target price on shares of Snowflake from $190.00 to $210.00 and gave the company an overweight rating in a report on Thursday, November 30th. JMP Securities boosted their target price on shares of Snowflake from $212.00 to $235.00 and gave the company a market outperform rating in a report on Thursday, February 29th. Needham & Company LLC decreased 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 decreased their target price on shares of Snowflake from $290.00 to $240.00 and set a buy rating on the stock in a report on Monday, March 4th. Finally, Raymond James boosted their target price on shares of Snowflake from $190.00 to $223.00 and gave the company an outperform rating in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $202.50.

Snowflake Trading Up 0.9 %

NYSE:SNOW opened at $161.43 on Tuesday. The firm has a fifty day simple moving average of $195.43 and a 200-day simple moving average of $179.30. Snowflake has a 12 month low of $135.26 and a 12 month high of $237.72. The company has a market capitalization of $53.16 billion, a P/E ratio of -63.31 and a beta of 0.94.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.80%. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Equities analysts forecast that Snowflake will post -1.92 EPS for the current year.

Insider Buying and Selling

In related news, insider Benoit Dageville sold 689 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snowflake news, SVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $190.00, for a total transaction of $285,000.00. Following the completion of the transaction, the senior vice president now owns 756,567 shares in the company, valued at approximately $143,747,730. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Insiders sold a total of 184,355 shares of company stock worth $37,679,411 in the last 90 days. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Large investors have recently bought and sold shares of the company. Accent Capital Management LLC purchased a new position in Snowflake during the 4th quarter worth $25,000. Mango Five Family Inc. purchased a new position in Snowflake during the 4th quarter worth $26,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position 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 buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its position 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 buying an additional 148 shares during the last quarter. Finally, VitalStone Financial LLC increased its holdings in shares of Snowflake by 616.0% in the 2nd quarter. VitalStone Financial LLC now owns 179 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 65.10% 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.