Snowflake (NYSE:SNOW) Trading Down 1.3%

Shares of Snowflake Inc. (NYSE:SNOWGet Free Report) traded down 1.3% during trading on Tuesday . The stock traded as low as $153.69 and last traded at $154.14. 1,485,241 shares were traded during trading, a decline of 76% from the average session volume of 6,118,625 shares. The stock had previously closed at $156.16.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Scotiabank lowered their price target on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 23rd. Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Wedbush restated a “neutral” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Wednesday, May 22nd. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Finally, HSBC restated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.64.

Read Our Latest Research Report on SNOW

Snowflake Price Performance

The company has a market capitalization of $50.47 billion, a price-to-earnings ratio of -55.05 and a beta of 0.90. The stock has a 50 day moving average price of $157.02 and a two-hundred day moving average price of $180.46.

Snowflake (NYSE:SNOWGet Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Sell-side analysts forecast that Snowflake Inc. will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark D. Mclaughlin bought 3,030 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $165.45 per share, with a total value of $501,313.50. Following the completion of the transaction, the director now directly owns 11,687 shares in the company, valued at approximately $1,933,614.15. The disclosure for this purchase can be found here. Insiders sold a total of 62,380 shares of company stock worth $9,803,625 over the last three months. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently modified their holdings of the stock. Accent Capital Management LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $25,000. LRI Investments LLC acquired a new position in shares of Snowflake during the 1st quarter worth about $29,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Snowflake by 193.9% during 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. Riverview Trust Co bought a new position in shares of Snowflake during the 1st quarter valued at about $31,000. Finally, Provence Wealth Management Group bought a new position in shares of Snowflake during the 3rd quarter valued at about $30,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

About Snowflake

(Get Free Report)

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.

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