Snowflake (NYSE:SNOW) Shares Up 1.1%

Shares of Snowflake Inc. (NYSE:SNOW) shot up 1.1% on Thursday . The stock traded as high as $150.90 and last traded at $150.43. 1,378,554 shares traded hands during trading, a decline of 79% from the average session volume of 6,645,126 shares. The stock had previously closed at $148.80.

Analyst Ratings Changes

Several research firms have recently weighed in on SNOW. Bank of America reduced their price objective on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. KeyCorp began coverage on Snowflake in a research report on Thursday, April 11th. They set an “overweight” rating and a $185.00 price objective for the company. Royal Bank of Canada reduced their price objective on Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, February 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price objective (down from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Stock Up 0.1 %

The company has a market cap of $49.78 billion, a P/E ratio of -58.99 and a beta of 0.91. The stock has a 50 day moving average price of $181.05 and a two-hundred day moving average price of $179.26.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Equities analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current year.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 8,515 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the sale, the insider now owns 55,216 shares of the company’s stock, valued at $8,627,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Frank Slootman sold 86,078 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the sale, the chief executive officer now owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benoit Dageville sold 8,515 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the sale, the insider now directly owns 55,216 shares in the company, valued at approximately $8,627,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,555 shares of company stock worth $36,868,487. Company insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently modified their holdings of the business. Aviance Capital Partners LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at $1,050,000. EDBI Pte Ltd boosted its holdings in shares of Snowflake by 2.6% in the 1st quarter. EDBI Pte Ltd now owns 145,009 shares of the company’s stock valued at $23,433,000 after purchasing an additional 3,624 shares in the last quarter. Roberts Wealth Advisors LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at $380,000. Breakwater Capital Group boosted its holdings in shares of Snowflake by 21.0% in the 1st quarter. Breakwater Capital Group now owns 2,154 shares of the company’s stock valued at $348,000 after purchasing an additional 374 shares in the last quarter. Finally, Brown Miller Wealth Management LLC boosted its holdings in shares of Snowflake by 14.5% in the 1st quarter. Brown Miller Wealth Management LLC now owns 5,622 shares of the company’s stock valued at $908,000 after purchasing an additional 714 shares in the last quarter. Institutional investors and hedge funds 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, as well as applies artificial intelligence (AI) for solving business problems.