Snowflake (NYSE:SNOW) Stock Price Up 1.9%

Snowflake Inc. (NYSE:SNOW) shares were up 1.9% during trading on Tuesday . The company traded as high as $152.08 and last traded at $150.06. Approximately 1,769,783 shares changed hands during trading, a decline of 73% from the average daily volume of 6,554,973 shares. The stock had previously closed at $147.21.

Analyst Ratings Changes

A number of analysts have recently commented on SNOW shares. UBS Group lifted their target price on Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Evercore ISI dropped their price target on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Oppenheimer dropped their price target on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Macquarie upgraded Snowflake from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $182.00 to $205.00 in a research report on Thursday, February 29th. Finally, HSBC restated a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Price Performance

The company has a market capitalization of $50.71 billion, a PE ratio of -58.85 and a beta of 0.91. The firm has a 50-day simple moving average of $176.10 and a 200 day simple moving average of $179.38.

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

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now directly owns 774,097 shares in the company, valued at $121,053,288.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Frank Slootman sold 86,078 shares of the business’s 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 filing with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the sale, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,209 shares of company stock worth $36,391,592. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new stake in Snowflake during the fourth quarter worth approximately $790,000. Sequoia Financial Advisors LLC increased its holdings in shares of Snowflake by 209.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after buying an additional 3,152 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Snowflake during the 3rd quarter worth approximately $458,000. Glynn Capital Management LLC grew its position in Snowflake by 3.1% during the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after purchasing an additional 5,629 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Snowflake by 55.9% during the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after acquiring an additional 105,937 shares in the last quarter. 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, as well as applies artificial intelligence (AI) for solving business problems.