Snowflake (NYSE:SNOW) Stock Price Up 3.3%

Shares of Snowflake Inc. (NYSE:SNOW) rose 3.3% during trading on Monday . The company traded as high as $140.23 and last traded at $139.58. Approximately 3,252,607 shares were traded during trading, a decline of 51% from the average daily volume of 6,611,630 shares. The stock had previously closed at $135.09.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price objective on shares of Snowflake from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Mizuho decreased their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price target on shares of Snowflake in a research report on Wednesday, June 5th. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, Robert W. Baird dropped their target price on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.46.

Snowflake Price Performance

The stock’s fifty day moving average is $145.46 and its 200-day moving average is $172.25. The stock has a market capitalization of $47.50 billion, a P/E ratio of -50.67 and a beta of 0.85.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The company had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. On average, research analysts expect that Snowflake Inc. will post -2.28 EPS for the current year.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 546 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total value of $70,608.72. Following the sale, the executive vice president now owns 756,489 shares of the company’s stock, valued at $97,829,157.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the sale, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 546 shares of Snowflake stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total transaction of $70,608.72. Following the transaction, the executive vice president now directly owns 756,489 shares of the company’s stock, valued at $97,829,157.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 519,112 shares of company stock valued at $64,932,073. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

Several hedge funds have recently modified their holdings of SNOW. Norges Bank acquired a new stake in Snowflake in the 4th quarter valued at about $838,455,000. Swedbank AB bought a new stake in shares of Snowflake during the first quarter valued at approximately $258,957,000. Vanguard Group Inc. grew its stake in shares of Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after purchasing an additional 1,559,830 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Snowflake in the first quarter valued at approximately $171,608,000. Finally, Trivest Advisors Ltd bought a new position in Snowflake in the 4th quarter worth approximately $173,747,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.